According to BP's recent global energy outlook, renewable energy such as wind, hydro and solar will be the world's main source of power within two decades. In Europe, that could easily account for over 50% of energy supplies and the transition from fossil fuels to renewables is likely to speed up now that the EU is looking to follow the UK and target net zero carbon emissions by 2050. Personally, I think 50% by 2040 is conservative and could easily rise to 80% or even 90% as the world wakes up to the threats posed from the climate emergency.
I think the politicians and policy makers have realised we need to speed up the transition from fossil fuels to renewables to achieve net zero carbon emissions by 2050 As this unfolds over the coming decade or so, the beneficiaries should clearly be those producing energy from solar, wind and hydro.
This addition takes my 'green' allocation to 45% of my total portfolio.