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Cows, like all living mammals, produce greenhouse gases that can threaten their very existence.
Ireland is reportedly considering killing 200,000 cows in the country to meet the European Union’s climate targets, according to the Telegraph.
Not everyone is a fan of this method.
“Reports like this only reinforce the picture that the government is working behind the scenes to undermine our dairy and livestock sector,” said Tim Cullinan, president of the Irish Farmers’ Association.
It also caught the attention of Tesla Inc. CEO Elon Musk.
“This really has to stop. Killing some cows won’t make a difference to climate change,” he wrote in a tweet.
Climate change is an urgent global problem that requires immediate attention, but instead of culling livestock, there are alternative approaches to meeting this challenge. Here’s a look at three green stocks that are actively addressing the issue.
Do not miss it:
Tesla Inc. (NASDAQ: TSLA)
According to the U.S. Environmental Protection Agency (EPA), 28% of U.S. greenhouse gas emissions in 2021 came from the transportation sector — and specifically from the burning of fossil fuels for cars, trucks, ships, trains, and planes.
The EPA estimates that a typical passenger vehicle emits about 4.6 tons of carbon dioxide per year.
Tesla is helping solve the problem by producing electric vehicles (EVs) that have no tailpipe emissions.
The company makes quite an impression. In the first quarter of 2023, it delivered 422,875 vehicles, an increase of 36% year-on-year.
Tesla is one of the most volatile names in the stock market. Shares fell as much as 65% in 2022, but are up 104% in 2023.
First Solar Inc. (NASDAQ:FSLR)
Solar energy can play an important role in reducing greenhouse gas emissions. One reason is that it produces no emissions during the power generation process. And according to the United Nations, life cycle assessments of solar energy “clearly show that it has a smaller ‘cradle to grave’ carbon footprint than fossil fuels.”
First Solar’s solutions help people harness the power of the sun. The company produces solar panels, including those used in utility-scale solar power plants.
The company brought in $548 million in net sales in the first quarter of 2023. For the full year, net sales are expected to be between $3.4 billion and $3.6 billion.
The stock market had a choppy ride last year, but First Solar investors are unlikely to complain. In the past 12 months, shares are up more than 170%.
Nextera Energy Partners L.P. (NYSE: NEP)
NextEra Energy Partners was founded by energy company NextEra Energy Inc. (NYSE: NO) to own, manage and acquire clean energy projects that generate stable cash flows.
Today, NextEra Energy Partners’ portfolio has interests in wind, solar and energy storage projects in the US, along with natural gas infrastructure assets in Texas and Pennsylvania.
Because natural gas is not considered a renewable energy source, NextEra Energy Partners is not a purely renewable energy source. But it recently announced plans to become one.
“To lead this transition, we are launching a process to sell our natural gas pipeline assets, and we are suspending distribution rights fees to NextEra Energy through 2026,” said John Ketchum, chairman and CEO of NextEra Energy Partners, in a press release.
The partnership is also distinguished by the cash payout to investors.
NextEra Energy Partners currently pays quarterly distributions of 84.25 cents per share, giving the stock an annual return of 5.4%. Management expects to grow distribution per unit at 12% to 15% per year through at least 2026, though they mentioned that given the current capital market environment, the growth rate is likely to be “at or near the lower end of this range.”
Shares of NextEra Energy Partners are down about 19% over the past 12 months. If you like outsized dividends but are not a fan of the volatility associated with publicly traded companies, you may want to look into reliable income plays outside of the stock market.
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This article ‘This really needs to stop’: Elon Musk just rejected Ireland’s plans to slaughter 200,000 cows for climate change – 3 top green stocks that really make a difference originally appeared on Benzinga.com
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