Investing

Waiting for the storm: Why 2023 might be better than all the forecasts predict

In today’s issue:

— Despite the noise of the climate culture wars, technology and progress roll on
— Climate conversations can’t be avoided. And they shouldn’t be, writes Jack Hamilton
— COP15 in Montreal ends with historical global biodiversity agreement; not everyone’s happy

Greetings from London, where we’ve decamped for the holidays. Their year didn’t turn out quite as pivotal for the forces fighting global warming as hoped, and 2023 promises to start out with even more controversy.

Still, gains in renewable output and President Joe Biden’s historic climate law — as well as this month’s nuclear fusion breakthrough by scientists, and Europe’s resolve in overcoming its energy crisis — underscore that despite the noise of the climate culture wars, technology and progress roll on. (See our outlook for 2023 here: These will be the six biggest climate stories for investors next year).

A potential global recession and the horrendous war in Ukraine cast large shadows over 2023, but as we know from this year, reality seldom matches our expectations and relentless planning. The forces of climate finance are changing the game from one of hope to one of action, which we shall see in the coming deals and new investments from Wall Street, Silicon Valley, and Europe.

At Callaway Climate Insights, we’re grateful this holiday season to have continued to grow our subscribers and readers in our third year and we look forward to a fascinating and chaotic climate year in our fourth in 2023. Please be sure to take advantage of our holiday subscription sale to give the gift of climate intelligence to a friend or loved one in the next two weeks.

We’ll be filing intermittently over the next two weeks and back full time in January. Have a happy and restful holiday season. — David

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