President Obama and Congress are both committed to finding new energy sources, and as such, alternative energy and infrastructure will be dominant investment themes of 2010, according to
In a press conference Tuesday, the two socially responsible investment firms noted how the White House supports a policy that would reduce U.S. emissions by 80% by 2050. The president is also looking to create five million jobs by investing $150 billion in clean technologies and energy sources.
Even if the government doesnt pass legislation to spend this money, the companies said, higher energy prices will prompt private enterprise to find new solutions.
On top of this, the government is looking to improve the nations water infrastructure by 2030, which some believe will cost between $300 billion and $1 trillion.
Acknowledging that the recession, now in its 16th month, is turning out to be far more severe than other recessions, which have averaged 11 months in duration, Calvert does expect the economy to improve in 2010.
Jens Peers, lead portfolio manager of the Calvert Global Alternative Energy Fund and the Calvert Global Water Fund, said: Some alternative energy projects around the world have hit the pause button as a result of the tightening credit market, but the groundwork has been established for a very quick bounce back in clean energy in 2010, beginning with the most mature alternative energy source, wind electricity.
