And a recent survey conducted by PwC showed that eight out of 10 US investors plan to increase their allocations to ESG products over the next two years. “The race is on to shift allocations and retrofit existing funds to keep pace with investor expectations,” the firm said.
Goldman’s asset management arm is itself stepping up exposure to the renewable energy storage sector, and recently partnered with private equity firm Cleanhill Partners to buy a majority stake in EPC Power Corp. The deal, for which no value was disclosed, gives the Wall Street firm a foothold in the growing market for US solar and energy storage value chains.
Singer and his colleagues at Goldman are advising clients to look at companies delivering potentially “transformative” technologies along the supply chain, such as renewable fuel storage and the capture and storage of carbon. These include Tesla, LG Chem, Samsung SDI, and Siemens Energy.
The climate bill “is a catalyst towards stimulating more investments across the supply chain of needed technologies to be able to move the United States and beyond, on the path towards decarbonization and net zero,” Singer said.