Nomura Climate Solutions Fund Q1 2026 Strategic Positioning

Impact · against what's priced in

The report highlights structural margin advantages for CF Industries and asset valuation gains for Darling Ingredients resulting from global energy volatility. These developments provide positive catalysts for both companies through favorable cost-basis divergence and increased demand for alternative fuels.

CF+0.60

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In context

CF Industries gains a significant margin advantage as its domestic natural gas costs remain low while European benchmark prices surge 80% due to Persian Gulf supply curtailments.

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• natural gas▲69%
• energy
• oil
• geopolitics
• CF
• DAR
• climate solutions
• industrials
• materials
• renewable diesel