(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
LONDON (Reuters Breakingviews) – Concise insights on global finance.
GREEN FLASH. Who’s most excited about Joe Biden’s latest carbon reduction plans? Wind stocks, for one. Danish wind turbine manufacturer Vestas jumped 9% on Thursday on U.S. plans to halve greenhouse gas emissions by 2030. Planners of racy green energy SPACs, for another. Still, the heavy lifting for the worldwide energy transition will be less flashy capital.
Here’s an example: a $300 million private equity fund planned by Tikehau Capital, in partnership with fellow French group Total. Tikehau already raised over 1 billion euros in Europe to invest in small groups undertaking unshowy stuff like improving building insulation. According to a person familiar with the situation, it now wants to do the same in North America. It’s not quite Tesla. But with buildings contributing here 38% of all energy-related carbon dioxide emissions, the attention of Wall Streeters could make a tangible difference. (By George Hay)
On Twitter twitter.com/breakingviews
Earlier in Capital Calls:
American Airlines lightens the losses
Europe IPOs get a qualified tech boost
Canberra looks game for more brawling with Beijing
Time to put Hermès’ cash pile to use
American consumers at forefront of rising prices
Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.