We return to a theme we have covered at length in several prior reports – the idea that the baby gets thrown out with the bathwater as politicians, regulators, and investors make decisions around what is best from a climate perspective and what is best from an ESG investing perspective. In many cases, the short-term noise and politics is masking some of the larger challenges and is likely to result in the wrong decisions, and potentially creating damaging inflation. See metals pricing chart below and today's daily report.
Source: Bloomberg, C-MACC Analysis, April 2021
