Switched On Capital Clash: Clean Energy vs Fossil Fuel Finance
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Oct 22, 2025 Join Ulrik Fugmann, Co-CIO at BNP Paribas Asset Management, Ralph Ibendahl, Managing Director at RBC Capital Markets, and Bianca Ziccarelli, Managing Director at CPPIB, as they delve into the shifting landscape of energy investment. They discuss how rising electricity demand and AI's influence impact clean energy opportunities amidst volatile tariffs and geopolitical tensions. The trio also highlights the competition between fossil fuels and renewables, shares insights on emerging technologies, and emphasizes the importance of strategic investment in a rapidly evolving market.
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Rising Power Demand Rewrites Investment Logic
- Electricity demand is set to surge driven by electrification and AI, reshaping investment needs across sectors.
- Investors must reassess where capital goes as power becomes the central enabler of modern technologies.
Keep Strategy Current With Policy Changes
- Revisit strategy frequently to reflect fast-changing policy and market dynamics.
- Adjust investments only when policy shifts alter the underlying business case.
Power Is The Binding Constraint For AI And Electrification
- Power demand in Europe and the U.S. could rise 70–80% over 20 years from electrification alone, with AI adding more load.
- The core investment thesis for clean energy remains strong because power is the binding constraint for AI and electrification.