Q3 saw extreme volatility in financial markets. Optimism for lower rate rises in the US reversed and Russia continued to weaponisation its gas supply. Towards the end of the quarter, an ill-judged and ill-timed UK mini-budget added to market instability.
On the impact side, extreme global weather patterns continued to cause concern alongside reports of 6 of our 9 global tipping points nearing breaching point. There was some positive policy news in the form of the Inflation Reduction Act and the new Australian Climate Change Bill.
Despite a challenging quarter, our strategic asset allocation and exposure to renewable energy and energy efficiency saw our portfolios remain resilient in very challenging market conditions.
Hear from our CIOs as they discuss the main investment and impact themes that dominated Q3.