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The world is moving into “a new age of clean technology manufacturing” that could be worth hundreds of billions of dollars per year, the International Energy Agency says.
China is dominating both the production and trade of “most clean energy technologies,” according to the IEA.
The energy agency notes there are potential headwinds related to supply chains, a long-standing issue that’s been thrown into sharp relief in recent years.

Wind turbine blades photographed at a facility in China’s Hebei Province on July 15, 2022. The world’s second largest economy is a major force in technologies crucial to the planned energy transition.
VCG | Visual China Group | Getty Images

The world is moving into “a new age of clean technology manufacturing” that could be worth hundreds of billions of dollars per year by the end of the decade, generating millions of jobs in the process, according to a new report from the International Energy Agency.
Published Thursday morning, the IEA’s Energy Technology Perspectives 2023 report — which referred to “the dawn of a new industrial age” — looked at the manufacturing of technologies including wind turbines, heat pumps, batteries for electric vehicles, solar panels and electrolyzers for hydrogen.

In a statement accompanying its report, the IEA said its analysis showed that “the global market for key mass-manufactured clean energy technologies” would be worth roughly $650 billion per year by 2030, a more than three-fold increase from today’s levels.
There is a caveat to the Paris-based organization’s forecast, in that it’s based on countries around the world implementing, in full, pledges related to energy and the climate — a significant task that will require both political will and financial muscle.

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“The related clean energy manufacturing jobs would more than double from 6 million today to nearly 14 million by 2030,” the IEA said, “and further rapid industrial and employment growth is expected in the following decades as transitions progress.”
Despite the above, the IEA noted there were potential headwinds related to supply chains, a long-standing issue that heightened geopolitical tensions and the coronavirus pandemic have thrown into sharp relief in recent years.
Its report highlighted “potentially risky levels of concentration in clean energy supply chains — both for the manufacturing of technologies and the materials on which they rely.”

China, it said, was dominating both the production and trade of “most clean energy technologies.”
When it came to mass-manufactured technologies such as batteries, solar panels, wind, heat pumps and electrolyzers, the IEA said the three biggest producer countries represented “at least 70% of manufacturing capacity for each technology — with China dominant in all of them.”
“Meanwhile, a great deal of the mining for critical minerals is concentrated in a small number of countries,” it added.
“For example, the Democratic Republic of Congo produces over 70% of the world’s cobalt, and just three countries — Australia, Chile and China — account for more than 90% of global lithium production.”

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Commenting on the report, IEA Executive Director Fatih Birol said the planet “would benefit from more diversified clean technology supply chains.”
“As we have seen with Europe’s reliance on Russian gas, when you depend too much on one company, one country or one trade route — you risk paying a heavy price if there is disruption,” he added.
This is not the first time Birol has spoken about the geopolitical dimension of the world’s shift to a future centered around lower-carbon technologies.
In October, Birol told CNBC that the main driver of clean energy investment was energy security rather than climate change.
Namechecking the Inflation Reduction Act in the U.S. and other packages in Europe, Japan and China, Birol said a “major increase in clean energy investment, about [a] 50% increase,” was being seen.
“Today it’s about 1.3 trillion U.S. dollars and it will go up to about 2 trillion U.S. dollars,” Birol told CNBC’s Julianna Tatelbaum.
“And as a result, we are going to see clean energy, electric cars, solar, hydrogen, nuclear power, slowly but surely, replacing fossil fuels.”
“And why do governments do that? Because of climate change, because of the greenness of the issues? Not at all. The main reason here is energy security.”
Birol went on to describe energy security as being “the biggest driver of renewable energies.” He also acknowledged the importance of other factors, including those related to the climate. 
“Energy security concerns, climate commitments … industrial policies — the three of them coming together is a very powerful combination,” he said.

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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Kura Oncology Inc: “That’s it, one of these personalized oncology companies. Here’s what I say about those. Some of them are going to work, and some are not.”

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CNBC’s Jim Cramer on Wednesday offered investors a list of stocks that he believes could be great additions to portfolios.
“We only want … stocks if they’re reasonably valued because this market has very little patience for anything expensive,” he said.

CNBC’s Jim Cramer on Wednesday offered investors a list of stocks that he believes could be great additions to portfolios.
“We only want … stocks if they’re reasonably valued because this market has very little patience for anything expensive,” he said.

Here is his list:

Earnings season kicks into high gear Friday with reports from major banks and airlines, and Cramer said he’s worried that analysts’ earnings estimates for 2023 seem too high given the state of the economy. 
“I’m betting many companies will give conservative forecasts, and the analysts will have to slash their full-year estimates if they’re worried about a Fed-induced recession caused by multiple rate hikes,” he said.
As a result, he decided to focus on stocks’ price-to-earnings-to-growth ratio when compiling his picks. “That tells you whether a stock is cheap or expensive relative to its own growth, which is what really matters,” he said.

Cramer’s stock screen methodology

To come up with his list, Cramer first took all the stocks in the S&P 500 and eliminated those that don’t have meaningful analyst coverage. Then, he took out the companies that are expected to lose money or have negative earnings growth in 2023.

From this consolidated list, he eliminated companies expected to have less than 5% earnings growth. Stocks with “nosebleed” price-to-earnings multiples were also axed. 
“This market hates anything with a high price-to-earnings multiple, so anything trading at more than 30 times earnings — out,” Cramer said. He also cut out stocks trading below 10 times earnings, since “a low multiple is a signal that Wall Street simply doesn’t believe the earnings estimates.”
After he then got rid of all the stocks with a dividend yield of less than 2%, he was left with 77 names. Finally, he ran a PEG ratio screen on the stocks, crossing off stocks where the price-to-earnings multiple was more than twice the earnings growth rate. Left with 40 names, he picked his top five.
Disclaimer: Cramer’s Charitable Trust owns shares of Morgan Stanley.

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CNBC’s Jim Cramer on Wednesday said that the markets’ recent gains could become a sustained rally.
Stocks rose on Wednesday, continuing the year’s strong start as investors grew confident that the Federal Reserve is winning its battle against inflation.

CNBC’s Jim Cramer on Wednesday said that the markets’ recent gains could become a sustained rally.
“The charts, as interpreted by Larry Williams … suggest that the market could have a very nice run over the next couple of months,” he said.

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2 days ago

Stocks rose on Wednesday, continuing the year’s strong start as investors grew confident that the Federal Reserve is winning its battle against inflation. All three major indexes closed up, with the Nasdaq Composite notching its fourth day of gains.
To explain Williams’ analysis, Cramer examined the daily chart of the S&P 500 from late 2021 to early 2022.

Arrows pointing outwards

Cramer said that every major rally during this period lasted for 24 days, according to Williams. He added that this pattern continued during the second half of 2022, with 24-day rallies in July, August and from mid-October to mid-November.
This week marked a new rally and should continue until February 3 if the pattern holds — or even past that date, Cramer said.
“Williams thinks we’re in the early, choppy phases of a bull market. To him, most of the bad news already got baked in last year, which sets us up for a better time in 2023,” he said.

For more analysis, watch Cramer’s full explanation below.

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Starbucks corporate employees will be returning to the office at least three days a week by the end of the month.
CEO Howard Schultz wrote in a memo to employees that badging data showed employees weren’t adhering to a loose requirement to work from the office one to two days a week.
Disney, Twitter and Apple are among the employers that have mandated stricter return-to-office policies.

Howard Schultz
David Ryder | Reuters

Starbucks corporate employees will be returning to the office at least three days a week by the end of the month.
Starting Jan. 30, employees within commuting distance will be required to report to the coffee giant’s Seattle headquarters on Tuesdays, Wednesdays and a third day decided on by their teams. The memo didn’t specify what qualified as commuting distance.

Workers closer to regional offices will also be required to come in three days a week, although the specific days aren’t mandated.
The coffee giant’s corporate workforce has been working remotely since the start of the pandemic. In September, Starbucks asked those workers to work from the office one to two days a week. But CEO Howard Schultz wrote in a memo to employees on Wednesday that badging data showed employees weren’t adhering to that directive.
The new policy is meant to “rebuild our connection to each other and synchronize teams and efforts,” said the memo from Schultz, who is departing the company this spring. He also compared corporate workers’ continued remote work to baristas, who have never had that option.
Schultz stepped in as interim chief executive in April after former CEO Kevin Johnson retired. In his third stint at the company, he has announced a $450 million plan to reinvent Starbucks and fix what he called “self-induced mistakes.”
Starbucks isn’t the only company that has recently mandated a stricter return-to-office policy. CEO Bob Iger, who has returned for his second leadership stint at Disney, told employees on Monday that they must return to the office.
Elon Musk set even higher expectations for in-office attendance at Twitter after he acquired the social media company. And Apple mandated employees return to work three days a week back in September.

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Disney is opposing activist investor Nelson Peltz’s attempt to join the board as the two sides prepare for a proxy battle.
The company also named Mark Parker, the executive chairman of Nike, its new chairman of the board.
Peltz, who leads Trian Fund Management, said Disney had “lost its way.”

The Walt Disney Company on Wednesday afternoon said it opposes activist investor Nelson Peltz’s attempt to join its board. Disney also named Mark Parker, the executive chairman of Nike, its next chairman.
Peltz’s Trian Fund Management confirmed later it had nominated Peltz to Disney’s board. Disney, Peltz said, had “lost its way resulting in a rapid deterioration in its financial performance.” Shares of the company closed Wednesday at $96.33. A year ago, Disney was trading at around $160 a share.

The announcements signal a big and messy fight. Nearly two months ago, Trian took an approximately $800 million stake in the company and began seeking a board seat. Trian wants to make operational improvements and reduce costs, according to the firm’s announcement Wednesday. The firm said it plans to file a proxy statement with federal regulators Thursday.
Trian also said it doesn’t want to replace Bob Iger as chief executive. Instead, Trian said, it wants to work with Iger to ensure a successful CEO transition within the next two years.
“Trian’s objective is to create sustainable, long-term value at Disney by working WITH Bob Iger and the Disney Board,” the firm said. “We recognize that Disney is undergoing a period of significant change and we are NOT trying to create additional instability.”
Disney preempted Trian’s announcement, saying earlier Wednesday that it had rebuffed Peltz’s advances.
“While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, the Board does not endorse the Trian Group nominee, and recommends that shareholders not support its nominee, and instead vote for all the company’s nominees,” Disney said.

A new chairman

The new drama at Disney comes after a rough year for the entertainment giant’s stock as soaring streaming costs and a slim slate of theatrical releases ate into profits.
Parker, who remain Nike’s executive chairman, will succeed Susan Arnold. Her 15-year term limit at Disney will to an end after the company’s next annual meeting of shareholders. The date for the meeting has yet to be announced. Disney’s board will be reduced to 11 members following Arnold’s departure.

Mark Parker
Chris Ratcliffe | Bloomberg | Getty Images

“During his four decades at Nike, Mark has led one of the world’s most recognized consumer brands through various market evolutions and a successful CEO transition, and he is uniquely positioned to chair the Disney Board during this period of transformation,” Arnold said in a statement Wednesday. Parker has been a member of Disney’s board for seven years.
Iger’s stunning return in November came with a promise of a two-year stint that would spark renewed growth. The CEO also plans to help find his next successor, after the tenure of his previous handpicked replacement, Bob Chapek, fell apart. Trian on Wednesday criticized Disney for “failed succession planning.”
Disney previously announced companywide cost-cutting measures in November, including a ban on all but essential work travel and a freeze on new hires for all but a few critical positions. Iger upheld that hiring freeze when he returned to the helm of the company later that month.
“Mr. Iger’s mandate is to use his two-year term and depth of experience in the industry to adapt the business model for the shifting media landscape, rebalancing investment with revenue opportunity while bringing a renewed focus on the creative talent that has made The Walt Disney Company the envy of the industry,” the company said.
–CNBC’s Jessica Golden contributed to this report.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday broke down the significance of the December consumer price index report for investors.
“Unless inflation’s coming down in all the right places, this earnings season could be very rough,” he said.

CNBC’s Jim Cramer on Wednesday broke down the significance of the December consumer price index report for investors.
“What makes tomorrow’s consumer price index number a big deal? Simple: We’re looking to see if we’re nearing the end of the period where companies can raise prices with impunity,” he said.

Cramer previously said that the Fed needs to crush companies’ pricing power in order to beat inflation.
The December consumer price index report is set to release Thursday. The index shows how the prices of goods and services changed in a given month. Economists polled by Dow Jones expect the December CPI report to show that prices dipped 0.1% from the month before.
Stocks rose on Wednesday as investors grew more confident that the Federal Reserve’s interest rate hikes are succeeding in tamping down inflation.
Cramer said that despite Wall Street’s newfound optimism, it’s possible the December CPI number could bring bad news for the economy — and for corporations set to report their quarterly results in the coming weeks.
“Unless inflation’s coming down in all the right places, this earnings season could be very rough,” he said.

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Organizers of the art and cultural festival Burning Man and several environmental groups have filed a lawsuit against the U.S. Bureau of Land Management (BLM) over the agency’s approval of a geothermal exploration project in northwestern Nevada.
The suit, filed in Nevada federal court on Monday, alleged that the BLM violated the National Environmental Policy Act and other laws in 2022 when it failed to adequately assess the environmental impacts of an exploration plan by the developer Ormat.
The suit alleged that the agency conducted a limited environmental review that only took into account the project’s impacts on Gerlach, a gateway town to the festival that attracts 70,000 people each year.

A bagpipe player and a belly dancer on stilts, participants in the “Burning Man” festival, cross a section of the Black Rock Desert in Nevada.
Mike Nelson | AFP | Getty Images

Organizers of the art and cultural festival Burning Man and several environmental groups have filed a lawsuit against the U.S. Bureau of Land Management (BLM) over the agency’s approval of a geothermal exploration project in northwestern Nevada.
The suit, filed in Nevada federal court on Monday, alleged that the BLM violated the National Environmental Policy Act and other laws in 2022 when it failed to adequately assess the environmental impacts of an exploration plan by the developer Ormat.

The suit alleges that the agency conducted a limited environmental review that only took into account the project’s impacts on Gerlach. The town only has a population of about 100 people, but serves as a gateway to the festival, which attracts 70,000 people each year.

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Burning Man, which owns or operates over 4,000 acres in the area, argued that the BLM’s approval for Ormat to develop 19 geothermal drilling exploration wells and build 2.8 miles of roads ignored multiple potential environmental harms.
The festival argued that final geothermal development would deplete the natural hot springs directly adjacent to the project site in a desert area “that otherwise does not have water abundance.”
The Biden administration last year announced a goal to expand the use of geothermal energy — renewable energy that comes from water heated inside the Earth — in order to aid the country’s transition away from planet-warming fossil fuels. The Energy Department has said it plans to curb the costs of geothermal energy systems by 90% by 2035.

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