Global Sustainability "ESG news & views, Vol. 55, June 2026" Kalb

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Global Sustainability "ESG news & views, Vol. 55, June 2026" Kalb

El Niño: expert call takeaways

We hosted an expert call on El Niño, which is increasingly becoming an investor FAQ and

is frequently appearing in media headlines. El Niño and its potential impacts, which may

be net negative for the agriculture sector globally, also connect to our previous work on

multiplier effects (see ESG Outlook), e.g. on the backdrop of fertiliser supply chain

disruptions and risks to food inflation. Currently developing El Niño conditions are

connected to the "unusually warm ocean waters in the tropical Pacific". The speaker

highlighted that a large warm pool of warm water (30 degrees or more) has built up

around the central Pacific about the size of the continental US, which is very unusual in

the expert's view.

+ Global Agribusiness: El Niño and Agribusiness: global weather risks and

commodity implications

EMEA ESG drivers in earnings Q1'26: Wait for it...

Middle East conflict referenced as one of the drivers of increased uncertainty

with disruptions across oil & gas, chemicals, fertiliser and other supply chains.

However, commentary and earnings disclosures thus far reference only limited

(often low single digit direct revenue) exposure for European companies. We will

be watching for companies' commentary on the impacts in the next reporting

season given growing investor queries on potential demand destruction (due to

higher prices) and supply chain dependencies.

Data centers remain a strong driver of orders, primarily in the capital goods

sector.

Energy transition: push for electrification, grids and renewables continues in

Europe, with further acceleration in policy in relation to Middle East related

disruptions. Battery storage (BESS) was of one the main growth areas given