'Wind blowing the other way' | Orsted US impairment negative for industry sentiment: Deutsche Bank - Recharge
'Wind blowing the other way' | Orsted US impairment negative for industry sentiment: Deutsche Bank | Recharge
Orsted’s announcement of massive potential impairment charges “is negative for sentiment across the [wind] industry”, Deutsche Bank analyst Gael de-Bray said.
The Danish developer this week said it foresees up to DKr16bn ($2.3bn)
Shares in Danish developer plunge nearly 25% after announcement of potential $2.3bn in impairment, while stocks in turbine OEM Siemens Gamesa also fall
Orsted’s announcement of massive potential impairment charges “is negative for sentiment across the [wind] industry”, Deutsche Bank analyst Gael de-Bray said.
The Danish developer this week said it foresees up to DKr16bn ($2.3bn)
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”