Europe

Goldman Sachs Research updates its paths to net zero carbon that were introduced in June 2021, reflecting rising emissions and coal use since the 2022 energy crisis and material changes to its Carbonomics cost curve.

Just as Europe emerged from two years of stagnation, recent weak survey data, increased political risk in light of the European Parliament and French election outcomes and, more crucially, the prospect of heightened trade and security risks depending on the US election outcome — all on top of daunting structural issues — have put the region’s outlook back in question.