Published on 24 Mar 2024 on Insider Monkey via Yahoo Finance
14 Best Climate Change Stocks To Buy According to Hedge Funds
In this article, we discuss the 14 best climate change stocks to buy according to hedge funds. If you want to read about some more climate change stocks, go directly to 5 Best Climate Change Stocks To Buy According to Hedge Funds.
Geopolitical and macroeconomic headwinds have combined to slow down growth in the climate change sector over the past few months. However, governmental policy towards net zero emissions within the next two decades has served to balance out some capital concerns surrounding the climate change market. According to a report by consulting firm McKinsey, private investment in climate firms outpaced the broader market in 2022 even as the economy contracted, boosting climate stocks.
The global climate change market has been one of the fastest growing sectors in the world economy over the past decade. US-based publication CCBJ estimates that the climate industry in the US was worth $300 billion in 2013 and over $1.4 trillion globally. Research and advisory firm Verdantix predicts that the climate change market will grow at an annual rate of more than 29% in the coming years. This will partly be due to increased government spending towards climate, as the Inflation Reduction Act allocated over $500 billion to mitigate climate change.