JPMorgan warns the US risks falling short of its long-term energy needs if renewables are sidelined. (Bloomberg)
While the Trump administration is prioritizing fossil fuels, nuclear, and geothermal, the bank’s global head of sustainable solutions, Chuka Umunna, argued that wind and solar are “essential” because they can be deployed faster.
Between the lines: JPMorgan this week pledged $1.5T over 10 years to strengthen US economic and energy resilience. BNP Paribas’ Ulrik Fugmann said energy storage demand will be “mind boggling” as grids modernize to meet the surge.