Convictions

Climate transition and structural themes

Unleash the power of climate transition and structural themes driving energy transformation and a sustainable future

sailing boats in a race

The transition to clean energy sources has made substantial progress, with renewables contributing to 30% of the global electricity generation in 2023. Over the last decades, a remarkable growth has been propelled by a larger adoption of solar and wind energy.

According to the International Energy Agency (IEA), there is still a lot to do: achieving a low-carbon energy system would require tripling the installed capacity of renewables1 by 2030.

Companies able to facilitate the energy transition in both developed and emerging markets (EM) will be pivotal in advancing the adoption of clean energy and meeting decarbonising targets. Investments in critical raw materials and grid infrastructure could be particularly promising, especially in EM where the potential for growth and impact is substantial.

Finally, exploring structural themes in a transforming world could be beneficial for investors. Areas poised for growth include sustainable infrastructure, water, green bonds, and artificial intelligence.

Quarterly Sustainable Bonds Globally Top 10 economies for energy transition investment in 2023: China is leading the way Source: Amundi Investment Institute, Bloomberg Intelligence, Data as of 31 March 2024. Green Bonds: proceeds are used to finance projects or activities with positive environmental impacts. Social Bonds: proceeds are used to finance social projects or activities that achieve positive social outcomes and/or address a social issue. Sustainable Bonds: proceeds are used to finance a combination of green and social projects or activities. Sustainability-Linked Bonds (SLBs): structurally linked to the issuer’s achievement of broad SDG goals. 0 50 100 150 200 250 300 350 400 09/2018 12/2018 03/2019 06/2019 09/2019 12/2019 03/2020 06/2020 09/2020 12/2020 03/2021 06/2021 09/2021 12/2021 03/2022 06/2022 09/2022 12/2022 03/2023 06/2023 09/2023 12/2023 03/2024 USD, bn Sustainability-linked Sustainability Social Green Total Source: Amundi Investment Institute, BloombergNEF. Data is as of April 2024. 258 30 31 32 32 35 55 74 95 303 360 676 0 250 500 750 Rest of world Italy India Japan Spain Brazil France UK Germany US EU-27 China $ billion Renewable energy Power grids Nuclear Energy storage CCS Hydrogen Electrified transport Electrified heat Clean industry Clean shipping
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1 International Energy Agency, “Net Zero by 2050 – A roadmap for the global energy sector”, October 2021, available at Net Zero by 2050 – Analysis - IEA

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 27 September 2024. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.

Date of first use: 27 September 2024 
Doc ID: 3895158

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