CEO & Co-Founder, iClima

Gaby has over 25 years’ experience in finance and in energy. She started her career in equity research, covering the Latin American electric utility sector at Lehman Brothers. After business school she moved into the buy side, where she worked at greenfield project finance and M&A at energy developer AES Corporation and as an Executive Director at GE Capital’s Energy Financial Services team in London. When structuring private equity infrastructure investments her primary focus was on renewable energy assets across Europe, having invested into solar and onshore wind, and screened several opportunities also in offshore wind. Gaby combines solid fundamental analysis skills with energy industry knowledge. Moreover, she has been involved with sustainable development since 1992 when she attended the UNFCCC Earth Summit in Rio de Janeiro. Gaby earned her MBA from Wharton in 2002.

Research Focus & Recent Articles

At iClima she also leads the research team and designed the firm’s methodology, approach and equity benchmarks. She has been very vocal with investors, keen to shift the narrative and make a distinction between the companies that are “doing less harm”, companies where decarbonisation is a cost, versus the companies that have their revenue in line with change. Gaby often talks about iClima’s view of a seismic shift happening right now, two worlds that are driven by very different forces: a “TECHtonic” movement, as new technologies are emerging with potential to decarbonise versus the companies in line with the old, high emission and fossil fuel economy. iClima’s methodology is based on green revenue quantification, negative screening based on brown revenues estimates and Potential Avoided Emissions, PAE. The use of PAE, as designed by Mission Innovation, as a tangible metric is one topic Gaby fervently advocates for.