The global economy has reached the “messy middle” of the energy transition where renewable energy and electric vehicles are prevalent enough to affect the demand for fossil fuels without entirely displacing them. This introduces new tensions and volatilities to established industries from energy to transport and countries from Canada to Indonesia.
Wall Street is giving its richest clients velvet rope access to this week’s public listing of SpaceX, reflecting the growing importance of the wealth management business.
Financial institutions have taken different approaches toward disclosing climate transition plans. The world’s largest banks and investment managers remain active in defining complete transition plans and even updating them – while complete disclosure among smaller institutions is lagging.
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