What does financial market turmoil mean for low-carbon energy?
The Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 18 March 2025
⏱️ 77 minutes
🧾️ Download transcript
Summary
Investors have gone sour on clean energy. In a troubled time for stock markets in general, where is the capital for energy flowing now?
Host Ed Crooks is joined by Shanu Mathew, Senior VP and Portfolio Manager at Lazard Asset Management, and Amy Myers Jaffe, Director of the Energy, Climate Justice, and Sustainability Lab at NYU. Shanu returns to the show to break down how institutional investors, under pressure to deliver returns, are shifting strategies on energy. Amy shares insights on cleantech venture capital trends, and the factors that support investment in low-carbon solutions. With support for renewables under threat, and cutting-edge technologies facing mounting challenges, is the transition to low-carbon energy slowing down or recalibrating?
Meanwhile, Big Oil companies are changing course on their decarbonisation strategies and approaches to addressing climate change. BP and Shell are pulling back from power and renewables and emphasising oil and gas investments instead, after pressure from investors. Are they adapting to market realities, or are they abandoning clean energy too soon? And what will their strategic shift mean for the rest of the industry and for the climate? Amy discusses the close ties between oil prices and capital flows into cleantech.
Finally, there’s no end to the debate around AI’s evolving role in energy infrastructure. Electricity demand growth remains a dominant trend. The hyperscale data centre users, such as major tech firms, have emerged as key players in power demand. But trust issues persist between them and energy providers. The sector has a history of overestimating demand growth, leading to overbuilding. Are we in danger of going through that cycle all over again?
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Transcript
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| 0:49.1 | Hello and welcome to The Energy Gang, a discussion show from Wood Mackenzie about the fast changing world of energy. I'm Ed Crooks. And on today's show, we're going to be talking |
| 0:53.6 | all about investment in energy. |
| 0:55.8 | It's been an interesting time in energy investment these past few months, to put it mildly. |
| 1:00.3 | And we're going to be talking all about what we've been seeing in the market recently |
| 1:02.8 | and what we can expect in the months to come. |
| 1:05.8 | So to do that, it's a great pleasure to welcome back one of our favorite investment experts to the energy gang, Shano Matthew. |
| 1:16.7 | Shanu is a senior vice president and portfolio manager at Lazard Asset Management. Hi, Shanoo. How are you? |
| 1:21.2 | Hey, Ed. How's it going? I'm doing well. Good. Yeah, interesting times, keeping you busy, I'm sure. |
| 1:27.9 | Yeah, the whole tweet by tariff regime is something that's definitely moving markets by the hour. Yeah, absolutely, absolutely. |
| 1:31.1 | And it's also a great pleasure to welcome back our good friend Amy Myers-Jaffey. |
| 1:36.0 | Amy is the director of the Energy, Climate Justice and Sustainability Lab at New York University. |
| 1:36.9 | Hi, Amy, how are you? |
| 1:41.7 | I am great, Ed, and great to be here, but what a chaotic time. |
| 1:47.0 | I mean, just to try to prepare for the show, it's everything and it's all over the place. Yeah, it certainly is a very hectic time in financial markets right now. I don't |
| 1:52.1 | think it's an exaggeration to say it's a troubled time. If you look at the S&P 500 index, that's dropped |
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