Sustainable Investing

Sustainable Investing Top-down high angle view of vineyards, Langhe UNESCO World Heritage Site, Piedmont, Italy, Europe. Francesco Bergamaschi/Getty Images As a global macro investor, we seek to tackle the big questions in order to build our understanding of the world. Sustainable investing is no different. Understanding the Nexus of Sustainability, Economies, and Financial Markets Power Politics: Energy Self-Sufficiency in a Modern Mercantilist World October 16, 2025 Karen Karniol-Tambour, Ian Singer, Daniel Hochman, Jeremy Ng Cheap, abundant electricity is critically important to the AI race and national competitiveness. We take stock of energy supply and security across the US, China, and Europe. Is the Green Energy Transition Dead? March 19, 2025 Karen Karniol-Tambour, Daniel Hochman, Jeremy Ng Policy has shifted to prioritize energy security and industrial competitiveness over climate leadership. This will steer investment to the most economical energy sources, driving continued growth in renewables and fossil fuels—but slower decarbonization. Climate Policies Are Starting to Bite, Creating Headwinds for the Green Transition July 30, 2024 Karen Karniol-Tambour, Jeremy Ng The unprecedented pace of government action on climate looks unlikely to continue, as voters and policy makers grapple with the economic trade-offs. Are Corporates on Track to Cut Their Emissions? June 21, 2024 Daniel Hochman, Jeremy Ng, Abinitha Gourabathina The vast majority of publicly traded companies have announced plans to reduce carbon emissions, but many commitments are not sufficiently ambitious or credible—particularly in high-emitting sectors. As a result, investors may be unknowingly exposed to transition risk without a rigorous process to assess these plans. Daniel Hochman on the Macro Trends Driving the Transition to a Low Carbon Economy May 14, 2024 Head of Sustainability Research Daniel Hochman, Dartmouth Class of 2011, joins Dartmouth’s Tuck Energy Currents podcast to discuss Bridgewater’s research on the primary factors driving the transition to a low carbon economy and to offer advice for young professionals looking to enter the sustainability space. See important disclosures and other information here. Karen Karniol-Tambour on the Drivers of the Green Energy Transition April 16, 2024 Bridgewater co-CIO Karen Karniol-Tambour joined a panel discussion at a Global Energy Summit hosted in New York City. Karen shared her and Bridgewater’s insights on how the changing economic landscape affects funding for the green energy transition, how policy makers can support that transition, and how U.S. competition with China is driving the Western transition. Do We Have the Technologies Necessary to Reduce Global Emissions? April 1, 2024 Daniel Hochman, Jeremy Ng, Alexis Teh, JP Lucaci Head of Sustainability Research Daniel Hochman and Senior Researcher Jeremy Ng explore how achieving the world’s ambitious climate goals will require rapidly scaling economically viable technologies, while also innovating, incentivizing, and investing in less mature technologies that are not yet cost-competitive. Daniel Hochman on Decarbonization for a Sustainable Future February 14, 2024 Head of Sustainability Research Daniel Hochman joins the “Sustainability Shapers” podcast to discuss the intersection of sustainability, markets, and economies, highlighting the important role investors play in shaping a low-carbon economy. The conversation also covers Daniel’s own Bridgewater journey and the importance of creative thinking to understand the world’s most challenging complexities today. Please see here for important disclosures and other information. The Fourth Big Force: Climate Change December 21, 2023 Bridgewater founder Ray Dalio shares his reflections from COP28 and his perspective on climate finance. Gaps in Financing Highlight the Challenges Facing the Net Zero Transition December 7, 2023 Karen Karniol-Tambour, Daniel Hochman, Jeremy Ng, Alexis Teh How the net zero transition plays out—and the speed at which it occurs—will have major implications for corporate capex, commodities, and economies and markets more broadly. One lens into how this transition is unfolding is the state of bank-to-corporate green financing, which is not happening at a rate consistent with global net zero goals. How the World Is Tracking Against Its Climate Goals—and the Implications for Economies and Markets August 15, 2023 Karen Karniol-Tambour, Daniel Hochman, Jeremy Ng, Lorenzo Pinasco The world is still a long way from hitting its emissions targets, but the process of decarbonization is underway, and climate policies in major economies have a large and growing impact on spending, capital flows, and portfolios. Pursuing Net Zero Goals in Public Equities November 30, 2022 Karen Karniol-Tambour, Daniel Hochman, Jeremy Ng The publicly traded firms in a handful of emissions-intensive sectors are responsible for about 60% of all global emissions. By allocating capital to climate solutions and carbon improvers in these sectors, investors can make progress toward their net zero goals, even if that leads to higher spot portfolio emissions than if they were to cut these emissions-intensive sectors altogether. Where Do Greenhouse Gas Emissions Come From, and What Does That Mean for Investors? October 27, 2022 Karen Karniol-Tambour, Daniel Hochman, Jeremy Ng, Lorenzo Pinasco Greenhouse gas emissions are highly concentrated in a few key sectors in investor portfolios; the publicly traded firms in these sectors alone are responsible for about 60% of all global emissions. Investors thinking through climate risks, climate opportunities, and net zero alignment should focus on these sectors. Penciling Out the Impact of an Accelerated Climate Transition on Investors’ Portfolios November 19, 2021 Daniel Hochman, Josh Lewin, Eric Hubble, Karen Karniol-Tambour The transition to green energy will be an increasingly important driver of economies and markets. In this research, we stress test the impact on investor portfolios of four broad mechanisms that could accelerate the climate transition. 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