How U.S. Policy Can Fuel Green Energy Investments | Lord Abbett
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Fixed-Income Insights

Lord Abbett Portfolio Manager Annika Lombardi discusses how President Biden’s sustainability commitments can have long-term impacts on the energy and automotive industries.


Air Date: September 20, 2021

Good morning. My name is Annika Lombardi. I'm a portfolio manager on Lord Abbett's Climate Focused Bond Fund and Global Multi Sectoral Strategies.

Title: What we’re watching

In the past month President Joe Biden has made two significant sustainability related commitments that could potentially have large long-term impacts on the energy and automotive industries. At the beginning of August, the President signed an executive order that aims to make half of all new vehicles sold in the US by the year 2030 electric vehicles. And earlier this month, he also announced the goal of ramping up solar power so that it accounts for half of all US power generation by the year 2050.

These targets are very ambitious. If we think about 2020, electric vehicles only accounted for about 2% of all US car sales and solar energy only accounted for about 2% of US power generation. Given the low penetration rates we are starting with, there are significant barriers to reaching both of these ambitious targets from supply chain constraints, difficulties around trade relationships with China, and the need to get significant infrastructure spending approved in order to fund things like electric vehicle charging networks.

Title: Key takeaways

Despite these barriers, the key takeaway for us here at Lord Abbott is that whether these goals are actually reached or not, the transition to renewable power and electric vehicles will only continue to build steam. And growth will remain high in these industries for the foreseeable future, as companies and issuers attempt to meet these targets. The US is not the only country to make these kinds of sustainability commitments either.

For example, in the UK, they've announced a target of having 100% of all new vehicle sales be electric vehicles by the year 2035. Given Lord Abbott's firm wide focus on ESG and sustainability, we continue to monitor these trends very closely. They are particularly important for Lord Abbott's Climate Focus Bond Fund which invests in sustainability themes like solar power and further emphasizes our view that issuers, who are focused on sustainability will benefit over the long term.


Thank you so much for watching. And thank you for your continued interest in Lord Abbett.


Unless otherwise noted, all discussions are based on U.S. markets and U.S. monetary and fiscal policies.

Asset allocation or diversification does not guarantee a profit or protect against loss in declining markets.

No investing strategy can overcome all market volatility or guarantee future results.

Market forecasts and projections are based on current market conditions and are subject to change without notice. Projections should not be considered a guarantee.


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Copyright © 2021 Lord, Abbett & Co. LLC. All rights reserved. Lord Abbett mutual funds are distributed by Lord Abbett Distributor LLC.



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