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Elchin Mammadov

Elchin Mammadov

Executive Director, MSCI Research

Elchin Mammadov comanages MSCI’s ESG and climate research team for Europe, the Middle East and Africa. He also leads global utilities coverage, publishing company and industry research, overseeing ESG ratings for the utility companies and improving ratings methodology. In his previous role at Bloomberg, Elchin conducted equity research to assess how industry trends and government policies impact the financial performance of utilities. He holds a master’s degree in business management from the University of Surrey.

Research and Insights

Articles by Elchin Mammadov

    Financing the Climate Transition

    Research Report | Jun 10, 2024 | Guido Giese, Elchin Mammadov, Manish Shakdwipee, Kumar Neeraj

    Historically, climate investing has focused on portfolio decarbonization, but investors are increasingly turning to a “finance-the-transition” approach, seeking to invest in transition opportunities. The two approaches are not exclusive and best used hand in hand. 

    Removing Old King Coal's Crown ... Slowly

    Podcast | Apr 11, 2024 | Manish Shakdwipee, Elchin Mammadov

    Abruptly shutting down all the coal-fired power plants may appeal to some, but there would likely be unintended consequences for investors, as well as plant employees and those who live where the plants are located. A managed coal phaseout with specific target dates and actions may create a level of certainty for all involved.

    Investor Pressure May Help APAC Companies Minimize Asset-Stranding Risk

    7 mins read Blog | Mar 25, 2024 | Elchin Mammadov, Manish Shakdwipee

    A managed coal phaseout could help power generators reduce asset-stranding risk and help countries achieve their decarbonization targets. What might this mean for utilities companies and why might active engagement be the way forward for investors? 

    COP28: Key Takeaways for Investors from the Global Climate Summit

    Research Report | Dec 14, 2023 | Oliver Marchand, Linda-Eling Lee, Sylvain Vanston, Chris Cote, Mathew Lee, Elchin Mammadov

    COP28 concluded with an agreement for countries to transition away from fossil fuels, marking a historic pivot away from the primary sources of energy that have powered society for nearly 200 years. How can countries — and investors — address these goals? 

    Tilting at Wind Turbines

    Podcast | Sep 29, 2023 | Elchin Mammadov

    Despite growing demand for clean energy, price parity with fossil fuels and friendly policies, renewable energy companies are facing some tough headwinds. We take a look at why that's happening and what Orsted’s no good, very bad August can tell us about the rest of the industry.

    The Russia-Ukraine War and the Markets: One Year Later

    Podcast | Feb 23, 2023 | Ashish Lodh, Andy Sparks, Tom Leahy, Elchin Mammadov

    While the direct market impact of Russia’s invasion has lessened over time, there have been longer lasting effects that have exacerbated investor concerns around inflation, rising rates and central bank actions around the globe. We examine the issue through a multi-asset-class lens.

    Global Markets One Year After Russia’s Invasion of Ukraine

    11 mins read Blog | Feb 21, 2023 | Ashish Lodh, Andy Sparks, Tom Leahy, Elchin Mammadov

    Markets have partially recovered since Russia invaded Ukraine, but questions remain about inflation, economic growth and central banks’ actions. Understanding last year’s performance across asset classes, may help with investment decisions in 2023.

    Water, Water Everywhere? Well, Maybe Not for Long.

    Podcast | Jan 12, 2023 | Elchin Mammadov

    Faced with the undeniable reality of droughts and dry spells from China to the Southwestern U.S. this year, companies and their investors have begun to take the vital issue of water scarcity more seriously.

    European Governments Rescue Utilities Amid Gas Crisis

    2 mins read Quick Take | Oct 27, 2022 | David Muirhead, Elchin Mammadov

    Amid the Ukraine war, some of the largest European utilities have requested government support to offset losses from buying supplies at much higher prices. We look at which companies may be at greatest risk from soaring energy prices. 

    Catastrophic Droughts Put Utilities at Risk 

    2 mins read Quick Take | Oct 11, 2022 | Elchin Mammadov, Gabriela de la Serna

    Extreme droughts are putting great pressure on hydro and thermoelectric power producers, which need water to cool thermal power plants. Investors are watching to see how utilities manage water stress. 

    Energy Crisis Looms Over European Equity Markets

    2 mins read Quick Take | Sep 28, 2022 | Monika Szikszai, Elchin Mammadov

    The unfolding European energy crisis is causing havoc among energy producers and utilities. How could soaring energy prices affect companies from the perspective of energy consumption? 

    NYC Climate Week: Energy Transition and Climate Adaptation Panel

    Podcast | Sep 26, 2022 | Elchin Mammadov

    It is climate week in New York city! For this episode we bring you clips from our live panel called Infrastructure finance for the energy transition and climate adaptation. The show is curated by host, Mike Disabato, but the content is all from the live show. The panel was on how might the new U.S. climate law supercharge America’s energy transition; and what mechanism can help to close the gap globally between where capital goes and where countries need it?

    Proposed EU Windfall Tax May Hit Clean Power

    2 mins read Quick Take | Sep 20, 2022 | Elchin Mammadov

    As European policymakers mull windfall taxes on "excess" energy profits, clean-energy producers could be hit harder than fossil fuel-focused peers because of their differing cost structures.

    Inflation Reduction Act May Energize Utilities’ Energy Transition

    5 mins read Blog | Aug 31, 2022 | Elchin Mammadov, Mathew Lee

    The Inflation Reduction Act may help utilities and energy firms reduce direct and indirect emissions through tax-credit incentives designed to scale up the deployment of renewables and accelerate development of frontier decarbonization technologies.  

    Cannon-Brookes Brokers a Deal with AGL

    Podcast | Jun 3, 2022 | Harlan Tufford, Elchin Mammadov

    AGL Energy, Australia’s largest electricity generator and polluter, abandoned plans to spin-off its coal assets after tech billionaire Mike Cannon-Brookes bought shares to help block the move. It was a continuation of a trend we are seeing: the offloading or spinning off of pollutive assets away from the parent company. We discuss AGL’s attempt, this offloading trend, and where the company goes from here.

    Baby Formula Crisis and Australia Goes Green

    Podcast | May 27, 2022 | Antonios Panagiotopoulos, Namita Nair, Elchin Mammadov

    Abbott Laboratories is having to answer difficult questions after the F.D.A found its Michigan plant to be “egregiously unsanitary.” The plant closed after four infants became ill and two died after consuming Abbott’s baby formula that was made at the plant leading to a national formula shortage. We discussed what happened and why product quality and safety is such a key issue in ESG analysis. Then, we discussed the Australia election results which were heavily influenced by climate change concerns.

    Nord Stream 2 and Vaccines for Everyone

    Podcast | Feb 25, 2022 | Namita Nair, Elchin Mammadov

    As the Russian escalation in Ukraine continues, Germany has decided to suspend certification of the Nord Stream 2 Baltic Sea pipeline that would have doubled Russia’s natural gas export capacity to Germany. We discussed what this move means for the energy mix of Western Europe and what companies are exposed to the pipeline’s construction. Then, we discussed the equitable distribution of the COVID-19 vaccine: which company has distributed the most vaccines to lower income countries and which company has distributed the least, and why it matters.

    Europe’s Dependence on Russian Gas and Online Gambling

    Podcast | Feb 18, 2022 | S.K. Kim, Elchin Mammadov

    Tensions continue to rise between Russia and Ukraine. The crisis is complicated because of the dependence of the West on Russian natural gas. We discuss how that dependence plays out and what could happen to companies’ carbon targets if Russia cuts off its supply of natural gas. Then, we discuss the proliferation of online gambling in the US.

    Sustainable Gas and Assault at Rio Tinto

    Podcast | Feb 4, 2022 | Samuel Block, Elchin Mammadov

    The EU has made a last minute change to its green bible, the EU Taxonomy: It proposed including natural gas as a sustainable transition fuel. The move would have notable effects on investors and companies. And would give natural gas a coveted green label by the EU. Then, a self-commissioned report by Rio Tinto revealed sexual assaults and culture of ‘systemic’ bullying at the Australian mining giant.

    The World Gets Into the Spirit of COP-eration and Energy Prices Be Crazy

    Podcast | Nov 19, 2021 | Simone Ruiz-Vergote, Elchin Mammadov

    COP26 dropped an unstoppable wave of headlines. As delegates catch their breath for the hard work that starts in the aftermath, we take a look back at what happened in Glasgow. For one, it looks like big change lies ahead, especially for energy producers. But a recent surge in the prices of coal, oil, and gas may dampen the spirits of climate investors. Should it?

    Deforestation and Coal Death at COP26

    Podcast | Nov 5, 2021 | Leslie Swynghedauw, Elchin Mammadov

    We talk about two of the most consequential agreements made at COP26 this week. The first is the deforestation pledge signed by around 100 world leaders. And the second is an agreement by 46 countries to halt the growth of coal in our energy sector. Each is a step among many toward a more sustainable future, but each, as with many agreements, has its pitfalls.

    Climatepalooza Pt. 1

    Podcast | Sep 24, 2021 | Morgan Ellis, Antonios Panagiotopoulos, Mathew Lee, Elchin Mammadov

    It is climate week this week in New York city. So, we decided to throw a climatepalooza for you all by examining the climate plans of three companies in the most the most pollutive industries. In this episode, we give you a roadmap for the climate plans that have been coming out this week and tell you what to pay attention to as you sort through a company’s emissions reduction plan.