Navigating the race up the renewables S Curve

'Gradually and then suddenly'. That's how one of the characters in Hemingway's The Sun Also Rises describes how he was bankrupted. It neatly captures the nature of change. Change is a constant, but its speed varies. Sustainable investing has changed a lot over the last decades. From 'ethical investing' for a few, to 'responsible' for some, and on again to 'ESG' for many. The market increasingly recognised the need to capture material ESG risks in valuation and portfolio construction, but that change has been gradual. We are now at the edge of a more sudden change. In Instagram ree...