In this article, we present the list of 10 best climate change stocks to buy now, if you want to skip the discussion and see the top 5, head on straight to the 5 best climate change stocks to buy now.
NASA defines climate change as a broad range of global phenomena created predominantly by burning fossil fuels, which add heat-trapping gases to the Earth’s atmosphere.
Over time, global climate change has become evident with frequent dangerous weather events happening around the world. In the Global Climate Report for 2020; Global land and ocean surface temperature was 1.16°C above the 20th century average of 12.7°C and the second highest in the 141-year record.
Physical consequences of climate change can directly impact the stability of the financial markets. Utmost effects of climate change such as extreme weather changes (eg. drought, increase in sea level due to melting glaciers) can affect the operation and business processes of certain industries (could affect numbers of companies in terms of revenues which can affect stock values).
Climate change is reaching alarming levels and to help put an end to it, The Biden Administration is proposing to make US electricity production carbon-free by 2035 and achieve net zero-emission by the middle century. They plan to spend $2 trillion over four years to upgrade four million buildings making them more energy efficient. Some funds will also be allotted to public transportation, electric vehicle manufacturing, and financial incentives for consumers to trade up to cleaner cars. Andrew Light, the former senior climate official in the Obama administration, said that Mr. Biden is focused on lowering emissions and increasing jobs at the same time.
There will be a big push on electric vehicles, a big push on efficient buildings, both residential and offices, a big push on creating a new kind of civilian conservation corps and doing a lot of nature-based solutions on climate change.”
The International Energy Agency has found many benefits of electric cars where the carbon benefits of electric cars over petrol-fueled ones dropped from 50% to 30% in Europe when adding manufacturing emissions, even lower in the countries that get more electricity from fossil fuels, like the U.S.