of assets in operation owned by Ameresco


Million Metric Tons

of avoided CO2 emissions through Ameresco’s projects since 2010


Billion Dollars

in revenue from energy assets

View Our Analysis

The Path to Drawdown: Building Retrofitting

Buildings and construction account for 38% of global CO2 emissions and 35% of total energy use. Much of the energy used in buildings is the result of heating and air-conditioning, lighting, information and communications systems, security and access systems, fire alarms, elevators, appliances, and indirectly through plumbing.

According to Project Drawdown, up to 80% of this energy is wasted. This happens, for example, in the form of lights and electronics unnecessarily left on and gaps in the building’s insulation, walls and windows that allow air to seep in and out.

New construction with building automation systems is one way of addressing these energy inefficiencies. Another way is by retrofitting existing buildings. Retrofitting is the renovation of building components (including building envelope, appliances, and controls) to include high-efficiency solutions.

The world has 1.6 trillion square feet of building stock, 99% of which is not green. Building retrofits therefore has a large addressable market. Good building performance data is making it increasingly effective in enhancing energy efficiency, making it one of the most cost-effective and fastest ways to reduce electricity demand, fuel imports and carbon emissions while at the same time improving local air quality and public health.

What We Want to See Improve

Reduce Absolute GHG Emissions

Ameresco rightly stresses the importance for the world to transition to zero carbon emissions (p. 16). We commend them for helping their customers reach this goal by providing more efficient building energy systems and renewable energy generation. But we also want to see Ameresco reducing their own direct and indirect GHG emissions, not just track avoided emissions. They’re taking the correct first step by committing (p. 15) to measure their operating impact baseline and carbon footprint from their transportation in the future.

Report Energy Use

Another type of data we want to see is what fuel and energy sources Ameresco uses. We appreciate that Ameresco’s offices are taking steps (pp. 25-26) to make their operations more ecologically friendly - reducing plastic use and waste, switching to LED lighting, recycling, and encouraging bicycle commuting instead of driving. But if Ameresco’s operations and fleet run on fossil fuels, then this is the issue that needs to be addressed more than anything. Ameresco should report these metrics so that they can set goals to transition toward zero emissions.

Enhance Supplier Transparency

As of now, there is virtually no information on Ameresco’s suppliers or supplier concentration. There is also no publicly-available supplier code of conduct. These things should be made available for investors so that they can understand potential risks and carbon footprint in Ameresco’s supply chain.

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Allocated Company Description


Ameresco, Inc. (AMRC)

Ameresco retrofits buildings with renewables and technological solutions to reduce energy cost. This key in reducing emissions from existing buildings

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