Opportunities on the Horizon: Investing Through a Slowing Economy

Thematic updates | WEALTH OUTLOOK 2023 | MID-YEAR EDITION | 56 refund on an electric vehicle will benefit larger companies selling more vehicles, while smaller companies will be less able to capture as large a share of government spending. Like 1998, this is a moment of consolidation and strategic decision making that will decide winners and losers over the coming decade and beyond. Ultimately, we see a stronger, growing, and developing energy industry, one where old and new energy will evolve toward a different mix that will ultimately benefit society. We believe this is a historically important moment for cleantech—many of the winners of the next few decades will be decided. Therefore, it is particularly important for investors to focus on cleantech companies that are consolidating and gathering strength. Investors can also add to leading energy firms whose cash flow, efficiency and focused strategic execution will allow them to seek distressed opportunities and attract more capital for sustained growth.