AlphaValue is against the idea that the stock market will find in the green growth a new fuel to its rise. The optimism of a virtuous reading of the greening of the economy does not resist to the analysis.
The financial community, above all concerned with complying with ESG injunctions and respecting the European Green Taxonomy, would underestimate the colossal costs of switching to a greener economy. Direct costs (investments) and indirect costs (disruption of business models). Costs that, when taken into account, should inevitably lead to a drastic fall in stock market valuations.
00:00 Stock markets are betting that the green growth that will result from the energy transition will fuel their rise. Lucidity or mistake?
03:34 A infernal machine created by Europe in 2015
09:28 Environmental injunctions have distorted the discernment of the financial markets
12:56 Risk that must be rewarded… what this means for the markets
15:18 The case of ENI, a demonstration that the road to hell is paved with good intentions
18:08 Business models that are very difficult to transform
20:37 What downward potential does the energy transition open up?
23:24 Les contre-arThe counter-arguments to this scenario
27:25 Companies well positioned to benefit from the energy transition context