George Cheveley, co-portfolio manager for the diversified Natural Resources strategies and portfolio manager for the Global Gold fund at Ninety One, dives into ESG commodities.
The energy transition has been a hot topic of conversation for several years, but 2021 was the year that the harsh realities of what is required started to make themselves apparent. Simply, the rise in energy prices as economies started to open up last year highlighted the challenge the world has in switching from a predominantly fossil fuel-based power system to one based on renewable technologies. The latter requires large capital investment needing a lot of metals, inclusive of steel and copper, and will take time to build out. In the meantime, fossil fuel demand will not decline i...
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