Climate Assets monthly update: Trump’s erratic tariff policies continue to cause uncertainty

Trump’s erratic tariff policies continue to cause uncertainty and volatility across global markets, underpinning a new world where Europe is currently offering a more stable business environment. American consumer confidence is softening and manufacturing orders are slowing. This is now reflected on relative stock market performance between the US and Europe, as US benchmarks have given up post-presidential election gains.

The adoption of AI creates a wealth of opportunities to improve efficiency and productivity, both critical to the energy transition. AI can identify bottlenecks in the energy sector, optimising processes and contributing to market growth. It can enhance the efficiency of systems like wind turbines and solar panels, making them more cost-effective and accelerating product adoption.

Our sustainable investment strategy exposure spans AI hardware, cloud infrastructure, and software applications, ensuring we are positioned to benefit from multiple growth drivers.

As technology evolves, we will continue to assess and refine our portfolio to capture the best investment opportunities in this space.