Keep a close eye on green energy stocks.
Later this week, President Biden is expected to propose cutting U.S. greenhouse gas emissions by half by 2030 at a climate summit.
In fact, according to Barron’s:
“Biden invited 40 world leaders to the White House event, including Russian President Vladimir Putin. The invitees include 17 countries responsible for 80% of global greenhouse gas emissions. More than 300 companies, including Apple, Walmart and Johnson & Johnson, sent Biden a letter last week saying they were in favor of cutting emissions by at least 50%, while others worry Biden’s policies will harm the economy.”
China has already announced it will reach peak carbon emissions by 2030, and would achieve net-zero emissions by 2060. Even Russia is calling for greenhouse emissions to be lower than that of the European Union over the next 30 years.
The UK has even pledged to cut emissions by 68% from its 1990 levels by 2030. The EU has also committed to a cut of 55%, even though the European parliament favored 60%.
That being said, keep an eye on stocks like Ballard Power (BLDP), Plug Power (PLUG), First Solar (FSLR), SunPower (SPWR), Tesla (TSLA), and ETFs such as iShares Global Clean Energy (CLNE).
At the same time, keep an eye on rare earth metal stocks, like MP Materials (MP).
As noted by USA Today, “The route to meet climate change goals is clear: The mass adoption of electric vehicles and the global transition to renewable energy systems. However, the existing supply of metals needed for clean energy technologies is nowhere near sufficient, not in America nor across the world.”
Not helping, China which controls about 80% of global rare earth supply, is heightening its regulation of REE production to meet its own rising domestic demand. Should this be highlighted further, we could see a respectable rally in rare earth stocks and ETFs, too.
The world is also in desperate need of lithium, cobalt, and copper for example. It’s why we remain bullish on stocks like Albemarle (ALB), Lithium Americas (LAC), and Livent (LTHM).
The post The Top Stocks to Consider on Biden’s Greenhouse Plans appeared first on Morningology.
