Eugenio Tranchino

COP21 and investment in Italian energy market: WFW Head of Italy Eugenio Tranchino comments in Il Sole 24 Ore

4 December 2015

Watson Farley & Williams (“WFW”) Head of Italy Eugenio Tranchino, has been interviewed by Vitaliano D’Angerio for Plus 24 – Il Sole 24 Ore’s cover story on sustainable investments. Titled “Climate Change and stress test for portfolios”, the article was published in the leading newspaper on 21 November 2015.

Eugenio discusses the impact of decisions taken at COP21, the United Nations summit on climate change, on the Italian energy market. According to Il Sole 24 Ore Cop21 will drive down CO2 emissions in all States and it will boost major investments in the renewable sector. Since renewable sources are not programmable, a key role will be played by energy storage plants. In this context, bank financing will be fundamental for the construction of these plants.

Eugenio has commented: “In addition to the cuts to CO2 emissions there is also a drop down in energy demand in Italy arising out of a lack of industrial projects, which is not compensated by an increase in demand from the service industry. Some of Italian plants in the thermoelectric sector are under performing and almost all of them have been built through bank financing. The question now is, when are these debts expected to be repaid in light of this new scenario? This is something that financial institutions should have a look at.”