EU renewable energy revenues grows 7% in Q3

The cut in gas flows from Russia to Europe has had a significant impact on the electricity market in Europe, but not for reasons that you might expect. In response to the cut in flows, the European Commission mandated all …

UK Mini-budget destroys $6.5bn of infrastructure investor value

In July the FT reported ($) that Calpers suffered losses on both its fixed income and public equity portfolios of almost 15% for the year ending June. Meanwhile, its private asset portfolio provided returns of 20%. Now, as the FT noted, …

Appraising valuations

In July the FT reported ($) that Calpers suffered losses on both its fixed income and public equity portfolios of almost 15% for the year ending June. Meanwhile, its private asset portfolio provided returns of 20%. Now, as the FT noted, …

An Open Letter to ClientEarth, WWF’s European Policy Office, Transport & Environment (T&E), and BUND (Friends of the Earth Germany)

Dear Sir/Madam, Following your announcement on September 19, 2022, that you were taking legal action against the European executive to prevent fossil gas from featuring in the European Union’s sustainable finance Taxonomy, we wanted to assure you of our wholehearted …

Wanted: data on pricing climate risks

Private markets function on data – but the data to accurately price climate risks in investment decisions is sorely lacking. We must urgently fill this information void or private finance will fail to contribute to climate action. Since COP26 and …

Did Alteria overpay for the Chicago Skyway?

On September 14, Atlas Arteria announced it acquired a 67% majority stake in the Chicago Skyway Toll Bridge for US$2 billion. This was in sharp opposition to the views of IFM, one of its shareholders, which claimed it was “value …

An Open letter to Stuart Kirk

Dear Stuart, It takes courage to express non-conformist views to a room full of evangelists. During your now infamous speech at the FT, your annoyance with those who have found refuge in the ascetic ideal of decarbonisation, kicking for touch …

[infraStack] What do airspace closures, compound interest and aircraft manual subscriptions have in common?

Answer: They are driving cost of international sanctions to investors in Russian airports In this research note, we look at the potential loss of value of Russian airports due to the war in Ukraine. Drivers of impact include the closure …

[infraStack] Which infrastructure investor peer group outperformed in 2021?

Has the direct `Canadian’ model delivered compared to investors who chose to access infrastructure via fund managers? What happened to investors heavily exposed to airports after Covid-19 and does it still pay to invest in conventional merchant power? As they …

[infraStack] Gas is in the black, not green

Would excluding natural gas from the green taxonomy prevent the financing of transition fuels? In a new research note,we look at the (absence of) a good case to support natural gas generation with a ‘green label.’ Natural gas is the transition …