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Sustainable Investment Under Trump: 'Performance Matters Far More Than Politics,' JPMorgan Analyst Says

Sustainable Investment Under Trump: 'Performance Matters Far More Than Politics,' JPMorgan Analyst Says

特朗普时代的可持续投资:"绩效远比政治重要得多," 摩根大通分析师表示
Benzinga ·  11/12 19:15

Wall Street is speculating on the effects of possible Donald Trump policy changes when he takes office in January 2025. JPMorgan analyst Virgina Martin Heriz weighs in on the potential impacts of a second Trump presidency on sustainable investing.

华尔街正在推测特朗普概念可能对2025年1月上任时政策变化的影响。摩根大通分析师维吉尼亚·马丁·赫里兹就第二个特朗普总统任期对可持续投资的潜在影响发表看法。

Onshoring: Heriz sees a second Trump administration modifying the Inflation Reduction Act (IRA), but doing so with a "scalpel, not a sledgehammer."

再次国内化:赫里兹认为第二届特朗普政府将修改通货膨胀缩减法案(IRA),但会以“削刀,而非破锤”的方式进行。

The JPMorgan analyst sees the domestic content portions of the IRA as the "most safe incentives" due to bi-partisan support of supply chain onshoring. Heriz points to First Solar, Inc. (NASDAQ:FSLR), SunRun, Inc. (NASDAQ:RUN) and Sunnova Energy International Inc. (NYSE:NOVA) as clean tech companies particularly positioned to benefit from supply chain onshoring.

摩根大通分析师认为IRA中国内内容部分是由于两党对供应链再国内化的支持而成为“最安全的激励措施”。赫里兹指出,第一太阳能公司(纳斯达克股票代码:FSLR)、SunRun公司(纳斯达克股票代码:RUN)和sunnova energy international公司(纽交所股票代码:NOVA)作为清洁技术公司,特别有利于从供应链再国内化中受益。

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Hydrogen: Heriz also sees the 45V tax credit for clean hydrogen producers as likely to stay due to strong backing from traditional energy companies and Republican-leaning areas. Clean hydrogen companies including FuelCell Energy, Inc. (NASDAQ:FCEL) and Plug Power Inc. (NASDAQ:PLUG) are likely safe from policy changes under a second Trump administration, according to Heriz.

氢能源:赫里兹还认为清洁氢生产商的45V税收抵免可能会得到保留,因为受传统能源公司和共和党倾向地区的有力支持。根据赫里兹的观点,包括FuelCell能源公司(纳斯达克股票代码:FCEL)和Plug Power公司(纳斯达克股票代码:PLUG)在内的清洁氢公司很可能在第二届特朗普政府实施的政策变化下安全无虞。

EV Incentives: The analyst does expect subsidies for electric vehicles to be downsized or repealed, including the 30D clean vehicle tax credit of up to $7,500 on the purchase of a qualifying EV. Additionally, Heriz anticipates tightening EV charging incentives like the 30C tax credit that covers up to 30% of the cost of each charger. Some companies that could be negatively impacted by the repeal of EV and related charging incentives include EVgo Inc. (NASDAQ:EVGO), ChargePoint Holdings, Inc. (NASDAQ:CHPT) and Blink Charging Co. (NASDAQ:BLNK).

新能源车激励:分析师预计对电动车辆的补贴将被缩减或废除,包括购买符合条件的电动车辆可获得高达7500美元的30D清洁车辆税收抵免。此外,赫里兹预计加强电动车充电桩激励措施,如可覆盖每个充电器成本30%的30C税收抵免。一些公司可能因废除电动车辆及相关充电激励而受到负面影响,包括EVgo公司(纳斯达克股票代码:EVGO)、ChargePoint控股公司(纳斯达克股票代码:CHPT)和Blink Charging公司(纳斯达克股票代码:BLNK)。

Oil & Gas: Domestic oil and gas production is more influenced by market prices and global supply and demand rather than government policies, Heriz said. For this reason, the analyst expects a potentially reduced regulatory burden to be "helpful to the industry, but not life-changing in the short-term."

石油和燃料币:赫里兹表示,国内石油和燃料币生产更多受市场价格和全球供需影响,而非政府政策。因此,分析师预计潜在减少的监管负担对该行业将是“有帮助的,但短期内不会改变生活”。

The Take-Away: While Heriz does expect policy changes to affect sustainable investing under the second Trump administration, she said that outflows in sustainable investing are mainly motivated by underperformance.

重点是:Heriz确实预计政策变化会影响第二任特朗普政府下的可持续投资,但她表示,可持续投资的资金流出主要是由表现不佳引起的。

"Fund performance matters far more than politics," the JPMorgan analyst said.

“基金表现远比政治更重要”,摩根大通的分析师表示。

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Photo: Earth phakphum via Shutterstock

照片:通过shutterstock的Earth phakphum

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