Live Markets: Energy equipment: your next best energy transition play?

Tenaris SA

01/08/2024 11:26

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    ENERGY EQUIPMENT: YOUR NEXT BEST ENERGY TRANSITION PLAY?
    Would you have ever thought that energy equipment and
services companies (we're taking about firms such as Baker
Hughes  BKR.O , Subsea 7  SUBC.OL  or Technip Energies  TE.PA ) 
could be a good way for investors to play the energy transition?
    Probably not, but there's some ownership data unearthed by
Bernstein that surprisingly appears to suggest so.    
    After analysing data on over 32,000 funds, Bernstein has
detected a 37% increase in ESG ownership for energy services. 
    That compares to the 2% rise for global industries and the
1% decline seen across the global oil & gas sector.
    So, what does that mean?
    "We think such a positive development is evidence that the
Energy Equipment & Services industry is starting to become a
credible energy transition enabler and play," say a team of
analysts led by Virgile Haddad.
    Other sector companies also include Halliburton  HAL.N , SLB
 SLB.N , Tenaris  TENR.MI , Vallourec  VLLP.PA  and Gaztransport
et Technigaz  GTT.PA .

    (Danilo Masoni)
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    FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS:
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