The sell-off in green stocks is predicted to continue through 2024, marking a fourth consecutive year of losses, according to Bloomberg's Markets Live Pulse survey.
Negative sentiment is expected to impact various green asset classes, with Tesla potentially losing its top 10 position in the S&P 500, as indicated by nearly two-thirds of respondents. The decline is attributed to high-interest rates, political backlash, and evolving regulations.
Sustainable investor Chat Renders sees this as a “watershed moment” due to speculation overshadowing traditional financial metrics. While respondents share short-term pessimism, there's a consensus on the need to protect portfolios from climate risk in the coming years.
Some experts view the selloff as a temporary shift, presenting buying opportunities in utility stocks. Despite challenges, the urgency of addressing climate change suggests a potential rebound in the long run, with two-thirds of respondents expecting climate change to impact portfolios over the next three years.
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