These renewable stocks are rare winners in the Russian global meltdown

Source: marufish / Flickr

By David Callaway, Callaway Climate Insights

For all the devastating impact Putin’s War is having on the environment global and global energy prices, it’s amazing that renewable energy stocks are the big winners in the past month.

Yet it’s precisely the war and the surge in oil and gas prices worldwide that is causing investors to flock to renewable energy stocks such as solar, wind, tidal, and nuclear. For all the damage, it may take such a shock to the world to jolt it into finally getting serious about transitioning off fossil fuels. That’s the bet at least, especially in Europe.

Among the biggest winners on the Callaway Climate Index since Russia’s invasion last month are Fusion Fuel Green Plc (HTOO), a Dublin-incorporated green hydrogen company; mineral miner Piedmont Lithium (PLL); and Maxeon Solar Technologies (MAXN), the Singapore-based maker of solar panels.

Of course, the oil stocks such as ExxonMobil (XON) and Chevron Corp. (CHV) are higher also, reflecting the surge in oil prices to above $120 a barrel last week. They have since come down and were last trading just under $100 a barrel.

Investors are pushing the renewable play, however, and big wind companies in Europe, which have faded in popularity in the last year, are suddenly hot again. Almost $900 million was pumped into clean energy ETFs last week alone, according to Bloomberg. with such funds as the Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) attracting hundreds of millions of dollars in new funds.

Whether that money will stay in clean energy when the rest of the market begins to bounce back, whenever that is, remains to be seen. But for a clear sign of what happens in the markets when the world faces an energy emergency, as we will certainly do again, this is a rally worth remembering.

More insights below . . . .

Carbon price plunge on war highlights huge disclosure gaps

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. . . . China’s renewables schizophrenia continues. On the one hand it now leads the world in many renewable spaces, such as wind. On the other it ramps up its commitment to coal to feed the energy needs of its massive population. Can one country be both a leader in renewables and in fossil fuels? Read more here. . . .

. . . . It’s the flickering. Real or imagined, residents living near wind turbines don’t like what’s called ‘shadow flicker,’ which happens when shadows from moving wind turbines are cast upon homes and offices. And it’s going to grow as more turbines are erected. But a new study finds that the critics of the phenomenon are a small but vocal minority. Still, an unexpected challenge as the world gears up for more wind, and the inevitable protests that will accompany it. Read more here. . . .

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New York girds for climate change sea-level rises

In anticipation of sea-level rises and the resulting flood risks, New York City has partnered with federal agencies to create a $1.45 billion resiliency and flood protection area as part of the East Side Coastal Resiliency Project. A city official told ABC News that “through science-based analysis, policy and program development, and capacity building, the city’s resiliency efforts are ensuring that New York City is ready to withstand and emerge stronger from the multiple impacts of climate change, including from more frequent hurricanes, higher sea levels, extreme precipitation and more extreme temperatures.” The report also noted the project is expected to be completed by 2025 and will result in a 2.4-mile system of flood walls and floodgates, as well as elevate parts of the region by up to 9 feet, to keep the storm surge out of the neighborhood.

Cut (out) the lawn

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