The energy transition could represent a win-win for investors, enabling them to drive decarbonisation while generating returns, but with low visibility on electricity pricing post 2030, could infrastructure be the best investment?

Les six prochains mois devraient s’inscrire dans un contexte d’incertitude accrue, alimentée par la persistance des crises énergétiques, l’instabilité des orientations politiques et l’évolution des cadres réglementaires. Malgré une volatilité qui demeure élevée à court terme, la trajectoire à suivre apparaît de plus en plus clairement aux investisseurs : les tendances de long terme, en particulier la décarbonation, la transition énergétique, la numérisation et l’adaptation au changement climatique, n’ont jamais été aussi pertinentes.

The debate around ESG investing in the United States has become increasingly politicised, particularly following policy shifts under the current administration and the growing scrutiny of ESG-related mandates in several states. Yet the picture is more nuanced than a simple backlash narrative suggests. While some states have challenged ESG integration in public pension management, others continue to support climate-related investment frameworks, clean energy deployment and sustainability-linked disclosure requirements. The debate is therefore less about whether sustainability matters and more about how it should be integrated into investment decisions.