Cows, like all living mammals, produce greenhouse gases, which could threaten their existence.
According to the Telegraph, Ireland is reportedly considering killing 200,000 cows in the country to meet the European Union’s climate targets.
Not everyone is a fan of this method.
“Reports like this only serve to further fuel the view that the government is working behind the scenes to undermine our dairy and livestock sectors,” said Tim Cullinan, president of the Irish Farmers’ Association.
It also caught the attention of Tesla Inc. CEO Elon Musk.
“This really needs to stop. Killing some cows doesn’t matter for climate change,” he wrote in a tweet.
Climate change is a pressing global issue that requires immediate attention, but instead of culling cattle, there are alternative approaches to address this challenge. Here’s a look at three green stocks that are actively tackling the issue.
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Tesla Inc. (NASDAQ: TSLA)
According to the U.S. Environmental Protection Agency (EPA), 28% of America’s greenhouse gas emissions in 2021 came from the transportation sector — and particularly from burning fossil fuels for cars, trucks, ships, trains and planes.
The EPA estimates that a typical passenger vehicle emits approximately 4.6 metric tons of carbon dioxide per year.
Tesla is helping resolve the issue by producing electric vehicles (EVs), which have no tailpipe emissions.
The company is making quite an impact. In the first quarter of 2023, it delivered 422,875 vehicles, representing a 36% increase year over year.
Tesla has been one of the more volatile names in the stock market. Shares fell a staggering 65% in 2022 but are up 104% in 2023.
First Solar Inc. (NASDAQ: FSLR)
Solar energy can play a significant 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 power “clearly demonstrate that it has a smaller carbon footprint from ‘cradle-to-grave’ than fossil fuels.”
First Solar’s solutions help humans harness the power of the sun. The company produces solar panels, including those used in utility-scale solar power plants.
The business brought in $548 million in net sales in the first quarter of 2023. For the full year, net sales are projected to be between $3.4 billion and $3.6 billion.
The stock market had a choppy ride over the past year, but First Solar investors probably aren’t complaining. Over the past 12 months, shares have surged more than 170%.
Nextera Energy Partners LP (NYSE: NEP)
NextEra Energy Partners was created by energy company NextEra Energy Inc. (NYSE: NEE) to own, manage and acquire clean energy projects that generate steady cash flows.
Today, NextEra Energy Partners’ portfolio holds interests in wind, solar and energy storage projects in the U.S., 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 renewables pure-play. 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 incentive distribution rights fees to NextEra Energy through 2026,” John Ketchum, chairman and CEO of NextEra Energy Partners, said in a press release.
The partnership also stands out for its cash payout to investors.
NextEra Energy Partners currently pays quarterly distributions of 84.25 cents per share, giving the stock an annual yield of 5.4%. Management expects to grow the distribution per unit by 12% to 15% per year through at least 2026, although they mentioned that given the current capital market environment, the growth rate will probably be “at or near the bottom end of this range.”
NextEra Energy Partners stock is down about 19% over the last 12 months. If you like oversized dividends but aren’t a fan of the volatility associated with publicly traded companies, you might want to look into reliable income plays outside the stock market.
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