Switched On

This month, 196 parties are converging in Cali, Colombia for the 16th United Nations Conference on Biological Diversity (COP16). Less famous but no less significant than its climate-focused sibling (which will take place in Baku, Azerbaijan, a few weeks later), COP16 offers a chance to negotiate and assess strategies for protecting global biodiversity, with a focus on implementing the targets agreed upon at COP15 in Montreal two years ago. That’s critical, because as one of today’s guests points out, 100% of global economic activity is based to some degree on nature. To preview COP16, Dana is joined by Hugh Bromley, BNEF’s Head of Food, Agriculture and Nature, and team member Alistair Purdie. Together they discuss BNEF’s outlook for this meeting, published in the research note Expectations for Biodiversity COP16: Cali Fauna Dreamin'.They also discuss the funding gap for the Global Biodiversity Framework, the National Biodiversity Strategies and Action Plans, and the contentious issue of profiting from genetic data. Links to research notes from this episode: Public Research on Climate and Nature - https://about.bnef.com/bnef-climate-action/ Expectations for Biodiversity COP16: Cali Fauna Dreamin' - https://www.bnef.com/insights/35001See omnystudio.com/listener for privacy information.

Lithium-ion batteries, hydrogen electrolyzers and transmission lines all require one fundamental ingredient: metals. In other words, there can be no energy transition without massive metal supplies. Lithium demand jumps 17-fold by 2050 in BloombergNEF’s Net Zero Scenario. Manganese demand jumps 15-fold, and copper needs rise 4.5-fold against 2023 levels. Yet as demand skyrockets, supply growth is facing headwinds as low metals prices jeopardize important capacity additions. On today’s show, Dana is joined by Rosemary Katz and Kwasi Ampofo from BNEF’s metals and mining team to discuss the 2024 Transition Metals Outlook. Their conversation focuses on the 10 metals critical to the energy transition, the link between cooling electric vehicle demand and falling metals prices, and whether the world has enough known metals reserves to meet 2050 net-zero targets. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Transition Metals Outlook 2024 - https://www.bnef.com/flagships/transition-metals-outlookSee omnystudio.com/listener for privacy information.

Innovative climate tech is a key weapon in the battle to halt global warming, but finding the most effective new technologies isn’t always easy. Enter the BloombergNEF Pioneers. This annual award program identifies new tools for tackling three critical challenges in the transition to a low-carbon economy. This year’s awards focused on relieving bottlenecks in the deployment of clean power, decarbonizing the construction and operation of buildings, and creating the next generation of net-zero fuels. They also highlighted an array of ‘wildcard’ entries that were too compelling to ignore. On today’s show, Dana is joined by guest host Benjamin Kafri, Co-Chair of BNEF Pioneers, to interview two winners from the net-zero fuels challenge, XFuel and CoverCress, and wildcard winner NatureMetrics. More information regarding the upcoming 2025 BNEF Pioneers program, including the three key challenges and submission deadlines, can be found at www.about.bnef.com/bnefpioneers/. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.comSee omnystudio.com/listener for privacy information.

Agriculture is responsible for almost a third of global emissions. It’s also a leading driver of deforestation, water stress and plastic waste generation, and pressure is mounting on food companies to address their climate and nature impacts. The value chain that underpins the sector, however, is vast, involving millions of individuals and tens of thousands of companies, which makes identifying and addressing areas of concern a huge challenge. On today’s show, Dana Perkins hosts two analysts from BNEF’s Food, Agriculture and Nature team, Helen Ramsbottom and Alistair Purdie. Together they discuss the structure of the agri-food system, the challenges faced by large food companies when it comes to quantifying their true environmental footprint, the rising field of regenerative agriculture, and whether the lack of existing mandates is harming its adoption. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Corporate Sustainability in the Agri-Food System - https://www.bnef.com/insights/34305/view Sustainable and Regenerative Agriculture: Company Targets - https://www.bnef.com/insights/34809See omnystudio.com/listener for privacy information.

Methane might be the world’s simplest hydrocarbon, but its immense global warming potential makes it a complex problem in the battle to halt climate change. It’s also invisible to the human eye, which has made catching the methane plumes leaking from oil and gas assets a challenge. That’s now changing, as a growing network of satellites offers more accurate evidence of methane leaks around the globe. On today’s show, Dana Perkins speaks with Maria-Olivia Torcea from BNEF’s Oil Team. They discuss the Oil and Gas Methane Partnership 2.0, new methods of detecting methane, and how data is being used by those responsible for leaks. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Oil and Gas Methane Monitor: Super-Emitters in the US - https://www.bnef.com/insights/34535 Oil and Gas Methane Fix More Likely With Growing UN Group - https://www.bnef.com/insights/33675 The Methane Bill Facing US Oil and Gas - https://www.bnef.com/insights/31081 Gas With Low Methane Footprint to Grow to 45% of US Market - https://www.bnef.com/insights/33811 Tracing Methane Emissions From Oil, Gas and US Small Wells - https://www.bnef.com/insights/32979See omnystudio.com/listener for privacy information.

Extending energy access to the world’s most populous nation will be a Herculean task. To do it while also achieving its 2030 clean energy goals, India must increase its wind and solar capacity installations fourfold, highlighting just how much of a feat this energy transition will be. On today’s episode, Rohit Gadre, a BloombergNEF Specialist, moderates a discussion at the BNEF Summit New Delhi on what it will take to realize India’s clean energy revolution. He is joined by panelists Giorgio Fortunato, Head of Clean Energy and Power in Asia Pacific for Google; Kavita Saha, Managing Director, Head of Infrastructure and Sustainable Energies, India for CPP Investments; Amit Singh, Chief Executive Officer, Adani Green Energy; and Gurdeep Singh, Chairman and Managing Director, NTPC Limited. Together they discuss the ongoing issue of underperforming renewable energy assets, the role of nuclear power in India’s future and why AI’s energy demand means there is no time to waste. Today’s episode was recorded live at BNEF's New Delhi Summit. To learn more about our Summits and to listen to more interviews, please visit https://about.bnef.com/summit/See omnystudio.com/listener for privacy information.

International oil companies have been divesting assets at a surprising rate. Between 2015 and 2023, nine of the world’s largest IOCs have sold a total of $290 billion of assets, with upstream oil assets accounting for half of the divestment deals. Yet this trend toward ditching dirty assets may now be changing, as divestment proceeds dropped 15% last year. On today’s show, co-hosts Dana Perkins and Tom Rowlands-Rees are joined by David Doherty, BloombergNEF’s Head of Oil and Renewable Fuels Research, to discuss the key factors that inform these decisions. As they consider the investment and divestment strategies that major oil and gas companies are now pursuing, they also discuss how public and investor pressure to decarbonize is impacting the sector, how a spike in energy prices in 2022 changed the calculus, and why simply selling dirty assets won’t make for a cleaner world. This episode draws on BNEF research, including the note Oil and Gas Divestment Trends 2023: Divestment Slowed. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Oil and Gas Divestment Trends 2023: Divestment Slowed - https://www.bnef.com/insights/34457See omnystudio.com/listener for privacy information.

Carbon capture is on a roller coaster these days. Projects in the sector attracted more than $11 billion in 2023, almost double the investment figure from the year before, only to see growth stall in the first half of 2024. Fortunately, carbon removal technology reaches beyond the traditional ‘CCS’ model of carbon capture and storage (or ‘CCUS’ when a utilization component is involved). Coming from a small base, direct air capture, or DAC, is gaining momentum, and new technologies such as direct ocean removal are proving to be hubs of innovation. On today’s show, Brenna Casey, a member of BloombergNEF’s Sustainable Materials team, joins Dana to discuss new directions in carbon sequestration, how tax credits and other policies are shaping CCS projects around the globe, and what whales have to do with capturing carbon. The episode draws on BNEF research including CCUS Market Outlook 1H 2024: Trough of Disillusionment and Direct Air Capture’s Technology Battle to Heat Up in 2030s. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Tech Radar: Direct Ocean Carbon Dioxide Removal - https://www.bnef.com/insights/34401 CCUS Market Outlook 1H 2024: Trough of Disillusionment - https://www.bnef.com/insights/34161 Direct Air Capture’s Technology Battle to Heat Up in 2030s - https://www.bnef.com/insights/33877 Direct Air Capture Technologies: Primer - https://www.bnef.com/insights/33877See omnystudio.com/listener for privacy information.

A wave of new liquefied natural gas projects are due to be commissioned by the end of the decade. Yet a sharp increase in supply runs the risk of creating a glut, and with the rise of this transportable commodity, what impacts one market could have a ripple effect around the world. Today’s show addresses the interplay between global and regional gas markets, with co-hosts Dana Perkins and Tom Rowlands-Rees joined by Fauziah Marzuki, Global Head of Gas Markets at BNEF. Together, they discuss the role of the US and China in how LNG moves around the globe, how shifting policies and net-zero goals are impacting the outlook for natural gas, and the ‘shadow fleet’ that recently departed sanctioned LNG terminals in Russia. The show draws upon BNEF research including Global LNG Market Outlook 2030: Focus on Supply Risks and Global LNG Supply Outlook 2030: Second US Wave Incoming. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Global LNG Market Outlook 2030: Focus on Supply Risks - https://www.bnef.com/insights/34357/view Global LNG Supply Outlook 2030: Second US Wave Incoming - https://www.bnef.com/insights/34307/view LNG Trade Weekly - https://www.bnef.com/insights/34651See omnystudio.com/listener for privacy information.

Using electricity seems so simple: You flip a switch, and the light turns on. Yet behind that simple action is a sprawling and complex system of supply, demand and free-market economics. Today’s show dives into power markets. What are they and what role do they play in increasing the efficiency of power systems? Tom Rowlands-Rees, BNEF’s Global Head of Power Markets, hosts Helen Kou, Head of US Power, and Ian Berryman, Head of Energy Systems Modeling, to talk about capacity markets, vertically integrated utilities, power purchase agreements, and how changes to market design could help power markets better incorporate renewable energy. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: US Merit Order Primer: A Supply-Side Power Study - https://www.bnef.com/insights/34361 US Merit Order - LiveSheet (1.0.1) - https://www.bnef.com/insights/34379 US Power Weekly: Cheap Gas Changes Up the PJM Merit Order - https://www.bnef.com/insights/34587 2024 Caiso Market Outlook: Dynamics in Transition - https://www.bnef.com/insights/33467/view European Carbon Monthly July 2024: Supply Sprints Ahead - https://www.bnef.com/insights/34525See omnystudio.com/listener for privacy information.

What do biofuels, renewable power, and the food on your plate have in common? They all need land, and lots of it. While the technologies required to reach a net-zero future are expanding alongside rising energy demand, growing populations and higher living standards could require roughly a fifth more land be cultivated for agriculture by mid-century. Of the available land on Earth, decisions must be made regarding whether to devote it to agriculture, biofuels, bioplastics, power generation, battery metals or nature conservation. The challenge is profound, yet key solutions are emerging, including co-location and innovations to improve energy output and agricultural yields. On today’s show, Dana is joined by Hugh Bromley, BNEF’s Head of Food, Agriculture and Nature, and Kostas Pegios, who specializes in modeling at BNEF. Together they discuss the vast quantity of land required for the energy transition, which renewable energy technologies can be co-located with existing agriculture, and the competition between food crops and biofuels for suitable land. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: New Energy Outlook 2024 - https://about.bnef.com/new-energy-outlook/See omnystudio.com/listener for privacy information.

With the rise of intermittent renewable energy generation, the need for long-duration energy storage is rising fast. Lithium-ion batteries currently dominate the market, with record-low prices fueled by a global oversupply in battery manufacturing, but a group of new energy storage technologies may be about to challenge this technology’s position. On today’s show, Dana is joined by Yiyi Zhou, a BNEF clean power specialist, and Evelina Stoikou, a senior associate on its energy storage team, to review findings from their inaugural Long-Duration Energy Storage Cost Survey. Together they discuss the different types of long-duration energy storage studied in the report, whether these technologies can challenge the dominance of cheap lithium-ion batteries, and which countries are adopting these latest advanced storage options and why. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 2024 Long-Duration Energy Storage Cost Survey: Tough Race - https://www.bnef.com/insights/34105 See omnystudio.com/listener for privacy information.

This year has been a mixed bag for electric vehicles. After EV sales hit new highs in 2023, some automakers have now revised down their near-term targets, citing falling demand. While this may have generated headlines, the overall market offers a more nuanced image, with different segments outperforming others, and growth in developing economies starting to pick up pace. On today’s show, Dana is joined by BloombergNEF’s Head of Electric Vehicles, Aleksandra O’Donovan, and Head of Advanced Transport and Energy Storage, Colin McKerracher, to talk about findings from this year’s Long-Term Electric Vehicle Outlook. Together they discuss the slowdown in EV sales seen in some regions, the collapse in Chinese battery prices and its effect on the wider market, and the rise of electric commercial vehicles. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Electric Vehicle Outlook 2024 - https://about.bnef.com/electric-vehicle-outlook/See omnystudio.com/listener for privacy information.

Driven by supportive policies and a maturing project pipeline, clean hydrogen supply is set to increase 30-fold by 2030. Demand will be aided in part by Europe’s Carbon Border Adjustment Mechanism and other government policies, but fewer than a third of the 1,600 hydrogen projects that have been announced so far actually materialize in our analysis, and they are often subject to delays. On today’s show, Dana and hydrogen analyst Adithya Bhashyam discuss findings from our recent hydrogen outlooks. Together, they cover the global picture for clean hydrogen production, including how the US is leading the way on gas-fueled blue H2 and the uncertainty around the scale of future Chinese green hydrogen production capacity. They delve into the need for government support for offtake agreements, and the large gap between clean hydrogen supply and demand. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 1H 2024 Hydrogen Market Outlook: Targets Meet Reality - https://www.bnef.com/insights/34075/view Hydrogen Supply Outlook 2024: Regional Deep Dives - https://www.bnef.com/insights/34093/view Hydrogen Supply Outlook 2024: A Reality Check - https://www.bnef.com/insights/33965/view Hydrogen Supply Outlook 2024: Projects - https://www.bnef.com/insights/33959?context=eyJxIjoiaHlkcm9nZW4gb3V0bG9vayBhZGl0aHlhIiwiY29udGVudFR5cGUiOiJpbnNpZ2h0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbXSwiYXV0aG9yIjpbXSwiaW5zaWdodC10eXBlIjpbXX0= Hydrogen Offtake Agreement Database 2.0 - https://www.bnef.com/insights/32697?context=eyJjb250ZW50VHlwZSI6Imluc2lnaHQiLCJyZWdpb24iOltdLCJzZWN0b3IiOlsiMmQ2MzdhYTg0MTJhNGY3MyJdLCJhdXRob3IiOltdLCJpbnNpZ2h0LXR5cGUiOltdfQ==See omnystudio.com/listener for privacy information.

Each year, BloombergNEF’s New Energy Outlook develops and evaluates scenarios for the transition to a low-carbon economy. Delving into electricity, industry, buildings and transport, this flagship report outlines sector and country transition scenarios out to 2050. On today’s show, Dana is joined by co-host Tom Rowlands-Rees, BNEF’s head of research for North America, and guest David Hostert, Head of Economics and Modeling at BNEF and lead author of the New Energy Outlook. They discuss nine technological pillars that underpin the energy transition, and consider which of these are gaining traction or stalling. They also debate the value scenario exercises bring to those working in climate and energy when charting the path to a net-zero future. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: New Energy Outlook 2024 - https://about.bnef.com/new-energy-outlook/See omnystudio.com/listener for privacy information.

The persistent oversupply of solar modules has pushed prices to record lows and threatened the competitiveness of manufacturing outside of Asia. Against this backdrop, a group of US companies has petitioned the Biden administration for further tariffs to be applied. While China has historically been the target of the US government, the latest levies are focused on Southeast Asian countries where Chinese manufacturers have set up shop: Vietnam, Malaysia, Thailand and Cambodia. On today’s show, Dana is joined by co-host Tom Rowlands-Rees, and Pol Lezcano from our solar team. Together they discuss whether these tariffs could do more harm than good, given the push for net zero and the significantly cheaper modules that are already available. They also unpack the range and depth of the proposed duties, and how likely they are to support new and existing solar manufacturing in the US. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: US Solar Manufacturers Call for More Expensive Modules - https://www.bnef.com/insights/33971See omnystudio.com/listener for privacy information.

The European Union could be leaning towards a more protectionist stance when it comes to clean industry manufacturing, with policies such as import tariffs and domestic content targets under consideration. Would such protectionist measures help the domestic clean energy and electric vehicle sectors flourish? Today’s show brings you a panel from the BloombergNEF Summit Munich, in which Herbert Diess, Chairman of Infineon and The Mobility House; Jacek Truszczynski, Deputy Head of Unit - Net Zero Industries, Sustainable and Circular Products at the European Commission; Yann Vincent, CEO of Automotive Cells Company; and Håkon Volldal, CEO of Nel Hydrogen were led in conversation by Jon Moore, CEO of BNEF. They debated whether the European Union should follow the US in applying tariffs to Chinese imports, the inflationary risks that could arise should trade barriers go up, and the risks and potential benefits of allowing foreign markets to build clean-tech manufacturing plants in Europe. This episode of Switched On was recorded live at the BNEF Summit Munich. To learn more about BNEF’s Summits and to listen to more interviews, please visit https://about.bnef.com/summit/ Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.comSee omnystudio.com/listener for privacy information.

The global nuclear industry has been plagued with retirements for over a decade. However, after delegates at the COP28 summit last year voiced aspirations to triple nuclear capacity by 2050, the industry could be poised for growth. The usual regulatory, environmental and economic hurdles remain, but small modular reactors have the potential to ameliorate several of these obstacles if they can get off the ground. Meanwhile, exuberance for nuclear energy has been dampened by fluctuations in the price of enriched uranium. On today’s show, Dana is joined by BloombergNEF’s lead nuclear analyst, Chris Gadomski. He shares insights from the recent report Nuclear Market Outlook 1H 2024: Big Dreams Despite Hurdles, and provides perspective on the feasibility of a comeback story for the nuclear industry. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Nuclear Market Outlook 1H 2024: Big Dreams Despite Hurdles - https://www.bnef.com/insights/33819 See omnystudio.com/listener for privacy information.

As already-strained power grids grapple with rapidly increasing demand, Europe is pioneering an innovative and powerful new tool to help system operators manage grid constraints. These local flexibility markets help balance electricity supply and demand by enabling distributed energy resources, such as electric vehicles or storage operators, to solve grid bottlenecks. On today’s show, Dana is joined by BloombergNEF’s Head of Grids and Utilities, Sanjeet Sanghera, along with Felicia Aminoff, lead author of the recent BNEF report, Europe’s Local Flexibility Markets: Aiding a Strained Grid. Together they discuss the mechanisms that can be used to create a flexibility market, the potential scale of future markets and the technology required to grow them, and the existing regulatory models that underpin flexibility in an energy system. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Europe’s Local Flexibility Markets: Aiding a Strained Grid - https://www.bnef.com/insights/33289/viewSee omnystudio.com/listener for privacy information.

Rooftop solar is celebrating a runaway success in Australia, which has positioned itself to become a renewable energy superpower. From a target of doubling its renewable energy capacity by 2030 to $1.2 billion in the federal budget dedicated to the clean energy sector, the country has big plans for its energy transition. Yet the country still has a ways to travel before reaching its goals, with substantial legacy coal-fired power stations still contributing to the energy mix. On today’s show, Dana is joined by Leonard Quong, BloombergNEF’s Head of Australia Research. Together they discuss the state of the energy transition in Australia, including how large volumes of rooftop solar are leading to negative power prices, the country’s ambitions to become a leader in green hydrogen, and how its exports of coal, liquefied natural gas and other commodities continue to shape the region. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 1H 2024 Australia Market Outlook - https://www.bnef.com/insights/33285?context=eyJjb250ZW50VHlwZSI6Imluc2lnaHQiLCJpbnNpZ2h0LXR5cGUiOls4XSwicmVnaW9uIjpbImF1cyJdLCJzZWN0b3IiOltdLCJhdXRob3IiOltdfQ== See omnystudio.com/listener for privacy information.

Autonomous vehicles might be the cars of the future, but following a flurry of venture capital and private equity funding a decade ago, investment in this space has since tapped the brakes. Last year saw VC/PE fundraising fail to reach $4 billion for the first time since 2017. While green shoots have come in the form of Tesla’s upcoming robotaxi launch, in such a capital-intensive industry, which levels of autonomy are the rest of the field still betting on? On today’s show, Dana is joined by BloombergNEF’s Head of Intelligent Mobility, Andrew Grant. Together they discuss the recent drop in investment, advances in self-driving vehicle development, and Tesla’s continued resistance to following its peers in adopting laser-based sensor technology known as lidar. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Automated Vehicles: State of the Industry 2024 - https://www.bnef.com/insights/33597See omnystudio.com/listener for privacy information.

The first quarter of 2024 has seen a flurry of sustainable finance policy activity and a wave of mandatory reporting rules. Yet on the flip side, anti-ESG policies are gaining traction in the US. On today’s show, Dana is joined by Maia Godemer, senior associate for green and sustainable finance at BloombergNEF, to discuss this rapidly changing environment. Together, they consider BNEF’s new Sustainable Finance Policy Quarterly, touching on the new EU Corporate Sustainability Reporting Directive (CSRD) and how it differs from the International Sustainability Standards Board (ISSB). Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Sustainable Finance Policy Quarterly 1Q 2024 - https://www.bnef.com/insights/33831See omnystudio.com/listener for privacy information.

As the host of this year’s G-20 meetings and next year’s COP30 climate conference, Brazil is in the spotlight. Ranked sixth globally for energy transition investment in 2023, and third for both wind and solar capacity additions, Brazil is aiming to use its vast array of natural resources to ensure its future as a clean energy powerhouse. On today’s show, Dana is joined by BloombergNEF’s head of Latin America research, James Ellis, and analyst, Vinicius Nunes. They discuss Brazil’s potential for green hydrogen production, growing electric vehicle (EV) adoption in a market that is already dominated by vehicles powered by biofuels, and the role of the Amazon forest in voluntary carbon markets. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Latin America Market Outlook 1H 2024: Brazil Drives Growth - https://www.bnef.com/insights/33999See omnystudio.com/listener for privacy information.

As part of the Inflation Reduction Act, draft guidance for the US hydrogen production tax credit was introduced in December 2023, with the aim of promoting decarbonization in hard-to-abate sectors and enhancing energy security in the country. While some applauded the draft guidance for preventing greenwashing and driving real decarbonization, others view these requirements as excessive, and fear they could potentially discourage investment in green hydrogen production. On today’s show, BNEF’s head of hydrogen research, Martin Tengler, hosts a conversation on hydrogen production in the US, with panelists Kathleen Barron, Executive Vice President and Chief Strategy Officer at Constellation; Claire Behar, Chief Commercial Officer at Hy Stor Energy; Elena Scaltritti, Chief Commercial Officer at Topsoe; and Andy Vesey, President and Chief Executive Officer at Fortescue North America. They discuss whether the tax credit rules are helping or hurting green hydrogen production in the US, the lack of demand incentives compared with the EU, and the role that nuclear could play in the hydrogen sector’s future. Today’s episode was recorded live at the BNEF Summit New York. To learn more about BNEF’s Summits and to listen to more interviews, please visit https://about.bnef.com/summit/See omnystudio.com/listener for privacy information.

Sustainable aviation fuel, or SAF, has the potential to help decarbonize aviation and is the most scalable technology for this hard-to-abate sector in the near term. With offtake agreements for SAF surging over the past two years, the nascent industry has been showing promise. However, hurdles remain due to scarcity of supply, resource competition from renewable diesel, and a lack of technological diversification. On today’s show, Dana is joined by Daisy Robinson and Rose Oates, two members of BloombergNEF’s renewable fuels team. Together they discuss the regional policies that are driving the uptake of cleaner jet fuels, the different feedstocks used to produce SAF, and the greenium that SAF faces when compared with traditional fuels. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 2024 Sustainable Aviation Fuel Outlook: Getting Airborne - https://www.bnef.com/insights/33497/view See omnystudio.com/listener for privacy information.

China is churning out clean energy technology at a breakneck pace, driving down prices on everything from solar panels to lithium ion batteries. With supply far exceeding demand, the timing couldn’t be worse for the many countries that are looking to onshore clean-tech equipment manufacturing. On today’s show, Dana is joined by BloombergNEF’s Head of Trade and Supply Chains, Antoine Vagneur-Jones. They discuss the impetus behind the Chinese government’s drive to dominate the clean-tech export sector, the sheer scale of the global manufacturing overcapacity and whether it’s already sufficient to meet net-zero goals, and the US reaction to Chinese companies potentially offshoring production to countries like Mexico. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: China’s Clean-Tech Overcapacity Threatens Onshoring Dreams - https://www.bnef.com/insights/33543 Mexico Won’t Be China’s EV Export Hub to US Anytime Soon - https://www.bnef.com/insights/33761See omnystudio.com/listener for privacy information.

Voluntary carbon markets are coming off a tumultuous year, with constant public scrutiny and high-profile scandals undermining investor confidence. Despite the turmoil, the market has grown to a record size, as corporations look to carbon offsets to reach their net zero goals. On today’s show, Dana is joined by Layla Khanfar, BNEF corporate sustainability and carbon offsets analyst, alongside Kyle Harrison, BNEF’s head of sustainability research for the Americas, Europe, the Middle East and Africa. They discuss BNEF’s long-term carbon-market scenarios, the different types of offsets that are available for purchase, and how private companies are stepping in to help fill the regulatory void. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Long-Term Carbon Offsets Outlook 2024 - https://www.bnef.com/insights/33315/viewSee omnystudio.com/listener for privacy information.

Seaborne freight is the lifeblood of the global economy. It’s also a heavy polluter. Now that shipping companies, retailers and governments are all looking to decarbonize the supply chain, what is the outlook for clean shipping fuels? In a broad field of competing options including ammonia, methane and LNG, which is the most viable? On today’s show, Dana is joined by Mohith Velamala, a senior associate on BloombergNEF’s oil team. Together they discuss the maritime sector’s existing decarbonization targets and whether these can realistically be met, the stringent EU policies that are having a global impact, and the long-term outlook for fleet growth and its potential carbon footprint. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 2024 Marine Fuel Outlook - https://www.bnef.com/insights/33189 See omnystudio.com/listener for privacy information.

As the world races to accelerate the adoption of electric vehicles, countries are ramping up their efforts across the supply chain, from mining raw materials to fostering consumer demand. For the fourth year, BloombergNEF has ranked the potential of 30 markets to build a secure, reliable and sustainable lithium-ion battery supply chain, with Canada leapfrogging China to clinch the top spot this time around. On today’s show, Dana is joined by the head of BNEF’s metals and mining team, Kwasi Ampofo, and metals and mining analyst Ellie Gomes-Callus. Together they discuss the ranking, including which countries are performing best across the five categories assessed, and also unpack the recent volatility in the lithium market and the impact that Indonesian policy has had on nickel prices. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Global Lithium-Ion Battery Supply Chain Ranking - https://www.bnef.com/insights/33323 Harnessing Africa’s Critical Minerals Potential - https://www.bnef.com/insights/33517See omnystudio.com/listener for privacy information.

The aviation industry’s pathway to net zero is far from certain. Operational improvements and technologies such as sustainable aviation fuel and zero-emission aircraft could offer substantial emissions reductions, but questions remain around timing, scalability and customers’ willingness to pay. So what strategies can airlines apply to reduce their carbon footprint and meet their net-zero commitments? On today’s show, Jade Patterson, a BloombergNEF senior associate in sustainable fuels, interviews United Airlines’ Chief Sustainability Officer, Lauren Riley. Together they discuss United’s strategy for achieving its climate goals, the governmental policies that could encourage carriers to adopt greener practices, and the venture fund that United has founded to help clean up aviation writ large. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to BNEF Forums and Summits: Link to BNEF's Regional Forums page - https://bbgevent.app/bloombergnef-forum-2024/#/ Link to BNEF's Flagship Summits page - https://about.bnef.com/summit/See omnystudio.com/listener for privacy information.

With plastic production set to double by 2050, immediate action is needed to address plastic waste pollution and the inefficiencies of existing recycling systems. Chemical recycling could help process lower-grade feedstocks, significantly upping the amount of plastic that can be given a second life, but is the sector ready to do so? On today’s show, Dana is joined by Kirti Vasta, a senior associate from BloombergNEF’s sustainable materials team. Together they discuss the different forms chemical recycling can take, what’s driving investment in the space, and the unexpected places that recycled plastics can go. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Chemical Recycling of Plastics (Part 1): Market Update - https://www.bnef.com/insights/32709 Chemical Recycling of Plastics (Part 2): Tech and Costs - https://www.bnef.com/insights/32963See omnystudio.com/listener for privacy information.

As electric vehicle sales skyrocket, so too will the need for EV batteries and the metals that make them work. That’s where recycling comes in. By 2035, some 3.7 million metric tons of batteries could be nearing the end of their lives. Pull them apart to repurpose their innards, and you could have 10-18% of the key materials needed for battery manufacturing. On today’s show, Dana is joined by BloombergNEF energy storage analyst Andy Leach. Together they discuss why production scrap from the manufacturing process is the most important feedstock for near-term recycling, how EV ownership rates across different regions will impact the longer-term availability of key metals, and the policies and incentives that are designed to encourage and enforce battery recycling. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Lithium-Ion Battery Recycling Market Outlook 2024 - https://www.bnef.com/insights/33401See omnystudio.com/listener for privacy information.

The Chinese government is rolling out one of the world’s most ambitious clean energy plans, targeting 1,200 gigawatts of installed renewable capacity by 2030. Part of their strategy involves building megabases, huge clean-energy developments that will generate more than one-third of the targeted total. Yet bringing a multi-gigawatt megabase to fruition, and doing it on such a tight time scale, is no minor feat. On today’s show, Dana is joined by BloombergNEF analysts Tianyi Zhao and Xiangyu Chen. Together they discuss the policies that are driving megabase rollout, how the enormous demand for wind and solar equipment is impacting prices, and the new ultra-high voltage grids that will carry the power generated from remote megabases to major cities. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: China’s Unprecedented 455GW Energy Megabase Plan - https://www.bnef.com/insights/33031See omnystudio.com/listener for privacy information.

At the beginning of each year, BloombergNEF releases the Energy Transition Investment Trends report, its definitive resource on global investment in the low-carbon energy transition. Since the report’s inception a decade ago, investment levels have steadily risen, breaking the $1 trillion mark in 2021 and reaching a record $1.5 trillion in 2022. Was 2023 another record year for energy transition investment, and which sectors saw the most notable growth or decline? On today’s show, Dana is joined by BNEF’s Deputy CEO, Albert Cheung, and Head of Technology and Innovation, Mark Daly. They discuss financing global supply chains, which clean energy technologies are on track for meeting net-zero targets, and whether climate tech equity financing has rebounded from recent lows. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Energy Transition Investment Trends 2024 - https://www.bnef.com/insights/33273See omnystudio.com/listener for privacy information.

California has long been proactive when it comes to environmental policy, implementing measures ranging from a carbon market to put a price on emissions, to legislation to phase out the sale of new gasoline and diesel cars. But are current policies going far enough, and what can be done to ensure the state’s position as the climate leader in the US? On today’s show, we bring you an interview from our recent San Francisco Summit, where California State Senator Scott Wiener sat down with Corey Cantor, a Senior Associate in BloombergNEF’s Electric Vehicle team. Together they discuss California’s need for better public transportation alongside the shift to cleaner cars, the new law Wiener spearheaded on corporate emissions disclosure, and the potential impact of a Trump second term on the Golden State. Today’s episode was recorded live at BNEF's San Francisco Summit. To learn more about our Summits and to listen to more interviews, please visit https://about.bnef.com/summit/See omnystudio.com/listener for privacy information.

On today’s bonus episode of the podcast, Dana is joined by Kathy Gao, a Senior Associate from BloombergNEF’s Hydrogen team, to unpack the things to watch for the sector in 2024. Together they discuss offtake agreements and the potential for shipping and aviation to step up as customers, whether nuclear could become a viable method of hydrogen production among the plethora of available options, and the policies that could drive supply and demand in the year ahead. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Hydrogen: 10 Things to Watch for 2024 - https://www.bnef.com/insights/33105/viewSee omnystudio.com/listener for privacy information.

For every dollar supporting fossil-fuel supply, at least $4 must be put towards low-carbon energy this decade to keep the world on track to limit warming to 1.5C. But are the capital flows of corporations and financial institutions anywhere close to this balance? BloombergNEF has devised the Energy Supply Investment and Bank-Facilitated Financing Ratios to find out. On today’s show, Dana is joined by two of BNEF’s Sustainable Finance Associates, Trina White and Ryan Loughead. Together they discuss how energy financing varies by geography, how the sector has been performing against the wider market for debt and equity, and the ratios required to 2030 and in the decades ahead. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Energy Supply Investment and Bank Financing Ratios 2022 - https://www.bnef.com/insights/33005 Energy Supply Banking Ratio Tool (ESBRT 2.0.1) - https://www.bnef.com/insights/30865See omnystudio.com/listener for privacy information.

On today’s bonus episode of the podcast, Dana is joined by BloombergNEF’s Industrial Decarbonization Specialist, Julia Attwood, to discuss what to watch in this space in 2024. Together they talk about the expanding opportunities to use captured CO2 and the growth in storage capacity for this gas, the momentum in large-scale chemical recycling of plastics, and the potential decarbonization of the steel and cement sectors. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Industrial Decarbonization: Things to Watch in 2024 - https://www.bnef.com/insights/33115See omnystudio.com/listener for privacy information.

On today’s bonus episode of the podcast, Dana is joined by BloombergNEF’s Head of Wind Research, Oliver Metcalfe, to discuss the things to watch for the wind sector in 2024. Together they talk about whether this year will offer a more stable environment for offshore wind development, if auctions for such projects will see more success, and the challenges facing Chinese turbine makers. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Wind: 10 Things to Watch in 2024 - https://www.bnef.com/insights/33227See omnystudio.com/listener for privacy information.

Set against a backdrop of geopolitical tensions, this year will see elections taking place in markets that account for a combined 67% of global GDP. With the uncertainty that changes in leadership can bring, could these crucial votes lead to a slowing of investment in the energy transition as investors wait for the results and clear policy direction? On today’s show, Dana is joined by BloombergNEF’s Head of Global Policy, Victoria Cuming, and US policy analyst, Derrick Flakoll. Together they discuss the implications for the Inflation Reduction Act should Donald Trump return to the White House, how useful polling data really is, and if growing right-leaning sentiment will be reflected in the upcoming European Parliament elections. Links to research notes from this episode: Wave of Elections Poses Risk for the Energy Transition - https://www.bnef.com/insights/33191See omnystudio.com/listener for privacy information.

On today’s bonus episode of the podcast, Dana is joined by BloombergNEF metals analyst Yuchen Huo, to discuss the things to watch in industrial metals markets in 2024. Together they talk about what a continued slump in China’s property sector could mean for steel demand, how the expansion of electricity grids will drive the need for copper, and the impact of the ongoing surge in solar power capacity on aluminum. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Industrial Metals Monthly: Things to Watch in 2024 - https://www.bnef.com/insights/33089/viewSee omnystudio.com/listener for privacy information.

With an energy mix dominated by aging and increasingly unreliable coal power plants, South Africans have been putting up with rolling blackouts all the way back to 2007. The government’s latest energy strategy lays out a path to reduce these electricity shortages by replacing coal-fired generation. But rather than renewables being the natural successor, the focus is instead on gas. On today’s show, Dana is joined by BloombergNEF’s Head of Regional Energy Transitions, Emma Champion. Together they discuss why South Africa is still looking to fossil fuels for its power supply, why the new energy blueprint has rolled back utility-scale solar targets as smaller rooftop installations boom, and the attractiveness of the country as a renewable energy investment opportunity versus other markets in the region. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: South Africa Favors Gas Over Solar as Successor to Coal - https://www.bnef.com/insights/33121 Climatescope 2023 - https://www.bnef.com/insights/32751 South Africa Power Transition Outlook - https://www.bnef.com/insights/32751See omnystudio.com/listener for privacy information.

The start of each year sees BloombergNEF look at what could play out across the energy transition over the next 12 months. During January, Switched On will interview the brains behind the ‘Things to Watch’ series, starting with what to expect from the electric vehicle market. On today’s episode, Dana sits down with Colin McKerracher, BNEF’s Head of Advanced Transport. Together, they discuss the race between Tesla and BYD to claim the global EV sales crown, the new opportunities presented by emerging markets, and whether 2024 could be the year that oil demand sees a real dent from the shift to electric drivetrains. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: EVs and Clean Transport: 10 Things to Watch in 2024 - https://www.bnef.com/insights/33099See omnystudio.com/listener for privacy information.

Extreme weather events like fires and floods are causing companies to take a closer look at the physical risks posed by climate change, and how they could impact their income and balance sheets. Despite the financial threat posed, awareness of physical risk is currently low and exposure to potential losses and damage is still underreported in financial disclosures. As demand for transparency grows among investors and policymakers, what is the actual scale of the threat from physical climate risk, and what can be done to improve reporting and data collection? On today’s show, Dana sits down with Danya Liu, an analyst from BloombergNEF’s climate risk team. Together, they discuss the different forms physical risk can take and which weather events leave the largest financial impact, why the financial services industry is especially vulnerable to climate-driven catastrophes, and how insurers could help improve awareness of physical risk and data reporting. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Beyond Fire and Floods: Firms Gauge Costs of Physical Risk - https://www.bnef.com/insights/32983See omnystudio.com/listener for privacy information.

BNEF Pioneers is BloombergNEF’s annual climate-tech competition identifying game-changing innovations with the potential to accelerate global decarbonization and halt climate change. Last year, awards were given in three categories: accelerating the deployment of hydrogen, building a net-zero food production system, and sustainable metals and materials for an electrified future. On today’s show, Dana is joined by guest host Benjamin Kafri, BNEF’s Head of Client Relations and Innovation, to explore the third of these categories. Together, they interview representatives from Jetti, Nth-Cycle and Li-Cycle, the three Pioneers Award winners dedicated to cleaning up the world’s metals and materials supply chains. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. BloombergNEF's 2024 Pioneers Award page - https://about.bnef.com/bnefpioneers/ BloombergNEF's 2023 Pioneers Award winners - https://www.bnef.com/insights/31219See omnystudio.com/listener for privacy information.

Pesticides are considered an indispensable part of modern agriculture, but with links to environmental damage and soil pollution, their use comes at a cost. Could cutting-edge technologies that harness artificial intelligence help clean up farming’s chemical footprint? On today’s show, Dana sits down with Alexander Liddington from BloombergNEF’s sustainable agriculture team. Together, they discuss the positive environmental impact and cost savings that ‘green-on-green’ detection could have for farmers, as advanced cameras and AI are deployed to identify the weeds hiding among crops. They also explore the limitations of drones for precision pest control and whether pesticide manufacturers are embracing the technological revolution. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Precision Pesticide Delivery: Booming, to Spray the Least - https://www.bnef.com/insights/32161 AGCO and Trimble Link Up to Develop Anti-Weed Weaponry - https://www.bnef.com/shorts/s2eenwdwlu6801 Bayer Enters Collision Path With Farm Equipment Makers - https://www.bnef.com/shorts/s4gjmbt1um0w01See omnystudio.com/listener for privacy information.

The final agreement signed at the COP28 climate summit marked a significant step forward, addressing for the first time the need to transition away from fossil fuels. Among its signatories were oil-and gas-rich nations in the Middle East, many of whom currently center their economies around the export of fossil fuels. But what are these countries’ clean energy plans, and do they have alternative business models to offset the potential losses from a greener future? On today’s show, Dana sits down with Philip Geurts, an analyst from BloombergNEF’s oil team, to talk about the Middle East. Together, they discuss OPEC+ and the significant output cuts from some of its members, the debate over when and if peak oil demand will be reached, and whether hydrogen offers the region a realistic path away from fossil-fuel production. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Fossil Fuels Are Raking in Investments in Emerging Markets - https://www.bnef.com/shorts/s53df5dwx2ps00?context=eyJjb250ZW50VHlwZSI6InNob3J0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbIjJkNjM3YWE4NDExYjNiMjUiLCIyZDYzN2FhODQxMWI0YjA5Il0sImF1dGhvciI6W119 Hydrogen Hard-Pressed to Become Pillar of Big Oil’s Future - https://www.bnef.com/insights/32349/view $290 Billion Oil Cash Edge Allows Late Mideast Transition - https://www.bnef.com/insights/32111 See omnystudio.com/listener for privacy information.

As power grids evolve to accommodate new clean energy sources and smart technology, they are becoming more vulnerable to cyberattackers looking to exploit weaknesses in these increasingly connected systems. But what form do these attacks take, and what can be done to prevent them in the first place? On today’s show, Dana sits down with Amanda Ahl from BloombergNEF’s grids and utilities team. Together they discuss what form a cyberattack on the grid can take and the scale of damage it can cause, the marketplace for cybersecurity and costs involved in securing networks, and how utilities can future-proof their infrastructure against new artificial intelligence and quantum computing threats. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Guarding the Grid: Utilities Fortify Cyber Defenses - https://www.bnef.com/insights/32631See omnystudio.com/listener for privacy information.

With a quarter of offshore wind project deals having been canceled in the US this year, the Biden administration’s target of having 30 gigawatts of installed capacity by 2030 is looking even further out of reach. But why are developers coming under so much pressure and are these strains also being felt onshore? On today’s show, Dana sits down with Chelsea Jean-Michel and Atin Jain from BloombergNEF’s wind team. Together, they discuss the impact of inflation and interest rate hikes on US offshore wind projects, why some developers are allowed to re-bid on contracts they’ve canceled, and also why Texas is a bright spot for the rollout of onshore turbines. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Global Wind Market Outlook 2H 2023 - https://www.bnef.com/insights/32859?context=eyJxIjoib25zaG9yZSIsImNvbnRlbnRUeXBlIjoiaW5zaWdodCIsInJlZ2lvbiI6W10sInNlY3RvciI6WyIyZDYzN2FhODQxMTJiOTg4Il0sImF1dGhvciI6W10sImluc2lnaHQtdHlwZSI6W119 Offshore Wind Market Outlook 2H 2023: Ramp-Up Delayed - https://www.bnef.com/insights/32797See omnystudio.com/listener for privacy information.

The US has historically lagged behind mainland China and Europe for electric vehicle ownership, but is this about to change? If you believe GM and Ford, who cite falling demand for the delaying of their near-term EV sales targets, the logical answer would be no. But here at BloombergNEF, we’ve been crunching the numbers and what they show is not only are US sales of battery-electric cars rising, they are poised to cross the 1 million mark this year. On today’s show, Corey Cantor from BNEF’s EV team returns to talk with Dana. Together they discuss how the Inflation Reduction Act has supercharged the US market, whether red or blue states have the highest EV uptake, and whether Rivian can cross the ‘EV valley of death’ to scale from a startup to mass production. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Rivian’s Path Through ‘EV Valley of Death’ Looking Clearer - https://www.bnef.com/insights/32741 US Annual EV Sales Close In on 1 Million All-Electric Cars - https://www.bnef.com/shorts/s3va1ydwx2ps01?context=eyJjb250ZW50VHlwZSI6InNob3J0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbXSwiYXV0aG9yIjpbIjQwNjI3Il19 US EVs Hit 1 Million Annual Sales - With Time to Spare - https://www.bnef.com/shorts/s20elht0g1kw01?context=eyJjb250ZW50VHlwZSI6InNob3J0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbXSwiYXV0aG9yIjpbIjQwNjI3Il19 EV Sales Speed Past the 10% Tipping Point in 10 US States - https://www.bnef.com/shorts/s1p7zydwx2ps01?context=eyJjb250ZW50VHlwZSI6InNob3J0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbXSwiYXV0aG9yIjpbIjQwNjI3Il19 Biden States Faster to Adopt EVs But It’s Not All Politics - https://www.bnef.com/shorts/s1nv4tt0g1kw01?context=eyJjb250ZW50VHlwZSI6InNob3J0IiwicmVnaW9uIjpbXSwic2VjdG9yIjpbXSwiYXV0aG9yIjpbIjQwNjI3Il19See omnystudio.com/listener for privacy information.