Climate Tech Stocks to Add to Your Watchlist
Many investors are wondering what stocks to buy for climate change. Climate tech stocks have been on a wild ride, but recently, they’ve been a hot topic. Companies are now turning to alternative energies that can replace fossil fuels. Today, we’ll go over my top four climate tech stocks to buy, and their connection to the climate change fight.
Four Climate Tech Stocks to Watch
No. 4 Tesla (Nasdaq: TSLA)
To kick-off this list of best climate tech stocks, let’s talk about Tesla. Founded in 2003 in San Carlos, CA, this elite electric vehicle giant is working towards a zero-emissions future. Martin Eberhard and Marc Tarpenning are the creators and founders of Tesla. Elon Musk became the largest shareholder in 2004 and the CEO in 2008. Now, the company is a leader in its field when it comes to the world’s transition to sustainable energy.
Since day one, it’s always been committed to a positive environmental future. Climate change is accelerating. And aside from Tesla’s products being environmentally friendly, how they manufacture and build their products are also carefully thought out and produced in a sustainable way. The company continuously works to reduce energy use every single day. This is why it’s on my list of climate tech stocks to watch.
Despite continuing supply chain challenges, Tesla was able to produce over 305,000 vehicles in the first quarter of 2022. This was definitely a record quarter for the company. Total revenue grew 81% year-over-year (YOY) along with a 19.2% operating margin.
In addition, Tesla is leading the EV industry in the fight to tackle climate change. Let’s take a look at a few other stocks that are helping to fight.
No. 3 Brookfield Renewable Partners (NYSE: BEP)
Brookfield Renewable is one of the world’s largest publicly traded renewable power platforms. It’s also one of a few global, publicly traded renewable energy vehicles. They believe that sound ESG practices are essential to building strong businesses and creating long-term value for their investors.
Brookfield Renewable reported strong first quarter results. According to CEO Connor Teskey, “With decarbonization and energy security firmly established as a priority of global leaders, we are well positioned to deploy capital at accretive returns, leveraging our global reach, operating capabilities and development pipeline to accelerate the build-out of clean energy at scale and drive decarbonization across a growing opportunity set.” This company is a great potential investment due to its strong performance in an inflationary environment. Additionally, markets have been hyper-focused on sustained inflation in the future. And, Brookfield Renewable believes inflation to be a tailwind for their operating assets.
Due to its continued success and growth, and commitment to achieve net zero before 2050, this stock is definitely a name you’ll want to keep on your climate tech stocks watchlist. And as the company continues to grow, so will its ESG efforts.
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Why You Should Consider Investing in Climate Tech Stocks
With the overall market on a downward trend, it’s important to look at sectors and industries staying afloat. And climate tech stocks, at least a few of them, are doing much better than the overall market. The four listed above are all strong stocks and ones you might want to consider adding to your portfolio. Be sure to do your own due diligence and research the companies to gain a better understanding of the stocks and their impact on climate change.
