Galvanize’s Kirkham Says Public Money Clouds Energy Transition

Seth Kirkham, chief investment officer of global equities at Galvanize Climate Solutions, said he’s skeptical of public money being used to successfully decarbonize the economy.

While good public policy can help the energy transition, governments tend to be poor allocators of capital, he said at an ESG conference hosted Wednesday by Bloomberg Intelligence.

When companies accept loans from the US Department of Energy, for example, “amber and red lights start flashing” because if they’re unable to raise money in the capital markets, there’s probably a reason why, Kirkham said.

“I’m weary of companies that need to take public capital,” ...