Allianz Investment: Republican Party plans to weaken support for the clean energy industry in the United States, may lose "reliable investment" status.

In the internal of Allianz Investment, one of the largest asset management companies in Europe, people are increasingly concerned that the Republican Party in the United States is trying to weaken legislative support for key industries such as clean energy, which could lead to the United States losing its status as an investment destination. "For investors, the message is clear: the United States may no longer offer reliable investment channels as it did a few months ago," said Alex Bibani, senior portfolio manager at Allianz Investment in London, which manages around $650 billion in assets. House Republicans have decided to pass a tax reform bill that aims to eliminate multiple incentive measures from the 2022 Inflation Reduction Act, which could disrupt investment strategies based on the transition to clean energy. Bibani said that even if the Senate votes to reject certain provisions in the House bill, European asset management companies will still need to deal with a new round of uncertainty and volatility, ultimately forcing them to shift towards other sectors.