According to the US space agency, NASA, climate change is defined as a global phenomena in which the heat keeps on adding up to Earth’s atmosphere as a result of burning and other gases. Climate change around the globe is evident from various weather and climate-related occurrences taking place the world over. Climate change can have a direct impact on financial markets around the globe. Serious and critical weather changes like drought, flooding and etc can have a widespread impact on businesses of a certain industry that could result in affecting the stock values. The world leaders are familiar that climate change is touching an alarming level and steps are needed to minimize the impact. The Administration of the newly-elected US President, Joe Biden has proposed to make power generation in America carbon-free by the year 2035 resulting in achieving zero-emission by the year 2050. The US government is pondering over spending around US $2 trillion during the period of 4 years to make buildings for energy efficient. Funds are likely to be made available to promote electric-vehicle manufacturing and to provide financial incentives to customers for upgrading to cleaner transportation. In this article, we will review the Top 10 Climate Change Stocks for Investment as shared by Insider Monkey.
The US-based company Plug Power, Inc. stands 5th on the list for investment. The core business of this company is development of hydrogen-rich fuel cells. The purpose of hydrogen cells is to replace those conventional batteries and cells in vehicles and various equipment. The company posted a net earning of $106.99 million during the third quarter of the year 2020. The revenue was 1.99% higher as compared to estimated earning. Plug Power, Inc. earned the title of Best Places to Work by Albany Business Review.
Canadian Solar, Inc. stands 4th on the list. This company provides designing, production and marketing services of solar products. Canadian Solar, Inc. reported a net revenue of $913 million during the third quarter of the ongoing year. The solar products manufactured by Canadian Solar Inc. are responsible to convert sunlight to electricity for different purposes. The company owned a solar power plant in Japan, which it had sold to Tokyo Electric Power Company recently for a sum of $64 million. The plant was operational and could produce 19 MWp solar power. The information sounds interesting… right? Want to keep reading? Click 10 Best Climate Stocks to Buy Now.