The U.S. administration’s shift on climate sustainability does not have zero effect, but it is not the only signal. “I think that’s probably where there’s most of the recent confusion in the market, because we haven’t had policy certainty,” said O’Hanley. “Part of it is that some of the early policies were really much more around making commitments, as opposed to really getting at what the fundamental problem is. And I think there’s no place where policy has been more uncertain than in the U.S.
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And what’s worse: This is completely dynamic and depends on the