Commodity Crash Is New Road Block for Clean Energy, Goldman Says
- Revenue decline threatens growth in developing world: Scherr
- Long-term picture still strong with 'very real' opportunities
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The global crash of commodity prices and a looming increase in U.S. interest rates threaten to put a damper on the rapid rise of clean energy in the developing world, Goldman Sachs Group Inc.’s chief strategy officer told investors on Tuesday.
Nations dependent on metals and mining for income rode China’s demand for commodities in recent years to build up their economies and envision big investments in wind and solar power. Now, with growth slowing in China and elsewhere, the same countries face declining revenue that may make environmental measures a tougher sell, Goldman’s Stephen Scherr said during a forum on green finance the company hosted in New York.