How quantifying Avoided Emissions can broaden the decarbonization investment universe

ESG ownership continues to be largely concentrated in a subset of more-obvious pure play solution providers, mainly solar, wind and water. However, GS Research analysis suggests that since 2010, energy efficiency has helped to reduce 50% more carbon emissions than renewables generation additions. In this report, GS Research discusses how incorporating avoided emissions into investment decisions could help identify underappreciated enablers in the ecosystem of green solutions.