Investors are ditching renewable energy faster than any other funds on record.

From Watts Up With That?

Based on an article from zerohedge.

Investor Confidence Wanes in Renewable Energy

A recent article highlights a notable shift in investor sentiment away from renewable energy.

“Reuters reports that renewable energy funds suffered a net outflow of $1.4 billion in the July to September 2023 quarter.”

This marks the largest-ever quarterly outflow, signaling a significant retreat from the sector. The S&P Global Clean Energy Index, which encompasses major renewable energy companies, has also seen a decline of 30 percent this year, further illustrating the dwindling investor confidence in the net zero mission.

Political Skepticism Surrounds Net Zero Goals

Political voices across the globe are expressing skepticism and concern regarding the feasibility and impact of net zero policies. Australian Nationals Senator Matt Canavan, for instance, has described net zero as a “soundbite” and “totally insane,” emphasizing the extensive reliance of various sectors on fossil fuels.

““Almost everything we grow, we make, we do in our society relies on the use of fossil fuels,” he said.”

Global Shifts in Energy Policies

Various countries seem to be subtly shifting away from aggressive net zero targets, reflecting a more pragmatic approach to energy policies. For instance, the UK has delayed the banning of new petrol and diesel cars and residential gas heating, with Prime Minister Rishi Sunak stating,

“We’re not going to save the planet by bankrupting the British people.”

Similarly, France’s President Macron has refrained from setting a definitive date for phasing out fossil fuels.

Questioning the Science Behind Net Zero

Critics are also questioning the scientific basis of net zero policies. Geologist Professor Ian Plimer has criticized the manipulation of temperature records, stating,

“The fundamentals of science are you do not tamper with the original evidence. That has happened with our temperature record, where the past has been cooled and it makes it look as if we’re warming. That is fraud.”

Conclusion: A Reevaluation of Net Zero?

The article paints a picture of growing skepticism and reevaluation of net zero policies across various sectors, from investment to politics. The retreat of investors, coupled with political voices advocating for a more balanced and practical approach, suggests that the net zero ship might indeed be navigating through turbulent waters.

H/T Yooper