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The climate phenomenon El Niño is back. For investors, this is interesting not only because of its potential impact on the climate, but above all because of its economic consequences. A strong El Niño can put additional pressure on food, water and energy supplies. This also creates new investment opportunities, says Nedialko Nedialkov (portrait), Senior Portfolio Manager Thematic Equity at Allianz Global Investors.
El Niño is a natural climate phenomenon in the Pacific Ocean. During an El Niño period, seawater in the central and eastern parts of the ocean becomes warmer. Although El Niño is not caused by climate change, it is now occurring against the backdrop of a much warmer world. According to NOAA, June 2026 was the second-warmest June ever recorded...
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