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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
Current analysis does not guarantee future results.
*Europe is based on the OECD definition of European countries.
†Including Hong Kong
Left display as of December 31, 2019; right display as of December 31, 2020
Source for left display: International Energy Agency and AllianceBernstein (AB)
Source for right display: Global Carbon Project. Columbia University Center on Global Energy Policy is the source for estimates of China SOE emissions.
For illustrative purposes only
Source: Columbia University Center on Global Energy Policy
For illustrative purposes only
NPV: net present value
Source: Clark, Benoit and Walters. “Government shareholders, wasted resources and climate ambitions: why is China still building new coal-fired power plants?” Climate Policy, April 2022.
Source: Clark, Benoit and Walters. “Government shareholders, wasted resources and climate ambitions: why is China still building new coal-fired power plants?” Climate Policy, April 2022.
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
John Lin is the Chief Investment Officer of China Equities. He has been a Portfolio Manager for AB China Equities since 2013 and for Emerging Markets Value Equities since 2021. From 2008 to 2022, Lin served as a senior research analyst, responsible for covering financials, real estate and conglomerate companies in Hong Kong and China. He joined the firm in New York in 2006 as a research associate, covering consumer services companies for US Small & Mid-Cap Value Equities. Previously, Lin was a technology, media and telecom investment banker at Citigroup. He holds a BS (magna cum laude) in environmental engineering from Cornell University, and an MBA from the Wharton School at the University of Pennsylvania, where he earned the distinction Graduation with Honors. Location: Singapore
Philippe Benoit is an Adjunct Senior Research Scholar at the Columbia University School of International and Public Affairs's (SIPA) Center on Global Energy Policy, where he focuses on the energy and development challenges facing emerging economies. Part of Benoit's work in this area looks at the opportunities and challenges associated with state-owned enterprises in realizing the global energy transition. He has over 25 years of experience in energy, finance and climate policy, and has worked on energy and infrastructure financing in both advanced economies and developing countries across the Americas, Asia, Europe and Sub-Saharan Africa. Benoit is also currently Research Director for Global Infrastructure Analytics and Sustainability 2050, and Senior Associate (Non-Resident) with the Energy Security and Climate Change Program at the Center for Strategic and International Studies. He previously served as head of the Energy, Environment and Energy Efficiency Divisions at the IEA from 2011 to 2016. In addition to Benoit's time at the IEA, he worked for over 15 years at the World Bank, including as energy sector manager for Latin America and the Caribbean and as adviser to the managing director in the office of the World Bank president. Benoit was also a director in Société Générale's Energy Project Finance Department and worked as a corporate lawyer at Debevoise & Plimpton. Throughout his career, Benoit has contributed to more than 100 publications in the areas of clean energy, international development and climate change. He holds a JD from Harvard Law School, a BA in economics and political science from Yale University and a Masters in trade law from the University of Paris.