UBS On-Air: Market Moves · Client Strategy Office

Sustainable Investing Perspectives: Renewable energy & Infrastructure trends

·32 min·1 clip

Solar fastest (12-18 mo), gas medium (3 yr), nuclear longest

Dan Cassidy welcomes listeners back to the Sustainable Investing Perspectives series on the UBS Conversations podcast channel. In studio with him are Jay Dobson from the UBS Chief Investment Office, Chris Leslie from Macquarie Asset Management, and Tiffany Agard from CIO Investment Management. Tiffany leads the discussion and sets the agenda. The focus stays on broad CIO investment themes, with renewable energy and infrastructure at the center. Jay starts with the energy side. He says AI matters, but it is only part of the demand story. Global electrification is also lifting power needs, and U.S. industrial reshoring adds another layer. Policy has been a big source of uncertainty. He says it is probably hard to stop projects already under construction, especially on private land, where most U.S. development happens. Offshore and federal-land development look more exposed to pushback from the Trump administration. That still leaves a long runway before tax credits phase out. Permitting legislation would help with transmission and siting, although a midterm year makes that harder to secure. Even so, he thinks policy is becoming a somewhat smaller issue. On affordability, he argues the supply response from renewables can likely be managed within current policy. Chris agrees the sector felt noisy last year, but says a lot of that uncertainty is already behind the market as the new year begins. He describes a rush to get projects built before the tax credits expire, with the biggest players best placed to move quickly. Those players usually have the relationships, safe-harbored equipment, utility access, construction scale, and hyperscaler ties that smaller builders lack.

As heard by us

Renewables framed through policy timing, grid demand, and project execution.

This roundtable treats renewable energy as a policy, investment, and infrastructure problem, not a slogan. Dan Cassidy, Tiffany Agard, Jay Dobson, and Chris Leslie move from AI's power demand to electrification and industrial reshoring in the U.S., then into the practical…

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Why you'd press play

You want the investment case behind renewables, AI-driven load growth, and permitting risk.

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