Global Climate Solution Stocks
2023 List

PetroVietnam Power Engineering is an engineering firm that builds power plants. It is unclear how much of their revenue they get from fossil fuel electricity plants vs non fossil fuel, so we exclude them for lack of information.

SPCG is a pure play solar developer in Thailand that owns over 36 projects.

Demco is a Thai engineering and construction firm that builds and maintains electrical grids and builds solar farms.

Ninh Binh Thermal Power is in the business of constructing power plants. While some are renewable, they focus more on fossil-fuel powered electricity as well as a variety of non-energy related business lines.

Thien Truong Power Equipment is a construction firm that builds power plants and electrical distribution. They do not disclose how much revenue they make from constructing fossil-fuel fired plants, so we exclude them.

Eastern Power Group is a Thai energy developer. They have multiple solar plants, but also have built fossil-fuel powered cogeneration plants. They do not provide any revenue breakdown for investors on either, so we exclude them.

Citicore Power is a Filipino solar developer with six projects around the country that enable the island nation to generate more of its electricity without needing fossil fuels.

Ray Go Solar is a pure play solar developer in Malaysia. They site, plan, and build projects in the country so the grid can operate with fewer fossil fuels.

Trive Property Group is a Malaysian company that engages in a range of climate solutions. They build solar farms and trade solar panels. They install energy storage systems and EV batteries.

Vsolar Group is a Malaysian company that has two business arms. Importing and trading computer software and hardware and renewable energy development. As they made more revenue from their computer trading business, we exclude them.

Solarvest is a pure play solar developer operating out of Malaysia that cites, constructs, and operates solar projects in the country.

Sunview Group is a Malaysian solar developer involved in all stages of solar projects from beginning to operation.

Kencana Energi Lestari is an Indonesia renewable energy developer that makes a majority of its revenue from its hydropower and solar projects, although we will note it does own a biomass project which we do not consider a climate solution.

Power Solution Technologies is a Thai provider of energy services. They do develop renewable energy projects, but they also own oil pipelines and LNG refueling stations. They do not provide a breakdown of revenue from these different segments so we exclude them.

ILB Group is a Malaysian solar power developer with two projects in the country.

TSE is a Thai solar and biomass developer with utility scale and rooftop projects in Thailand and Japan. They make a majority of their revenue from these projects and a minority from their three biomass power plants, which we do not consider a climate solution.

SAAM is a Thai based solar developer that builds and operates solar projects in Thailand and beyond.

Sky Energy is an Indonesian manufacturer of solar panels and other solar equipment such as mounting hardware.

Cypark is a Malaysian renewable energy developer with a range of solar projects, from utility scale, to agriculture-integrated, to floating through the country. They also operate a waste to energy plant and biogas plants.

Samaiden Group is a Malaysian solar developer building and operating projects throughout the country.

LafargeHolcim is a Moroccan cement producer that notably does offer lower-carbon green cement alternatives. But these products still only represent a tiny fraction of their revenue in comparison to their traditional cement products.

Cartier Saada is a Moroccan company that makes a majority of its revenue from preserving fruits that come from perennial sources like olives and tree fruits.

Miniere de Touissit is a Moroccan mining company that mines for a number of critical minerals for the energy transition like lead and zinc, but they also mine for non-critical minerals like lead and gold, so we exclude them.

Ciments du Maroc is a Moroccan cement producer. While they do have some innovative approaches to sustainability like running their CO2 emissions through an algae reactor, they do not actually make any alternative or low-carbon cement mixes.

Jet Contractors is a Moroccan construction firm. While they do operate a business line dedicated to building solar farms, they generate the majority of their revenue from constructing buildings and highways, neither of which are climate solutions.

Managem is a Moroccan mining company. While they do mine for multiple critical minerals for the energy transition like cobalt, zinc, and copper, they also extract other non-critical minerals like gold, meaning they do not pass our mining filters.

TAQA is a Moroccan electrical utility. While they do use some solar and wind in their generation mix, they use about 10x more coal, leading them to fail our utility filters.

Zellidja is a Moroccan lead smelter that has been operating since the 1940's that also generates revenue from provider copper, another critical mineral for the energy transition, to markets in Europe.

Huge Group operates out of South Africa. They are involved in many industries with a minority of their revenue coming from their renewables and batteries business.

Al Khair River operates in land restoration, a climate solution, but they provide no online information to verify this, so we exclude them.

Ellies is a solar company in Southern Africa, that helps homes and businesses get stable electricity production through solar and battery systems.

Despite its name, Renergen seems to only be investing in natural gas extraction and distribution.

Euro-Cycles is a Tunisian manufacturer of bicycles. While it is assembling more electric bicycles, these still seem to be a small portion of their sales, so we exclude them.

Eveready East Africa is a Kenyan provider of car and individual batteries. It is expanding into LED lights and solar, but has not seemed to make up the majority of revenue from climate solutions yet.

Mpact is a cardboard manufacturer in South African with over 50% of their pulp coming from recycled paper, thus reducing the need for new trees to be used in cardboard creation.

Bushveld generates a majority of its revenue from producing vanadium, which is not a critical mineral for the energy transition.

Copper 360 is a South African copper mining company, a critical mineral for the energy transition.

Umeme Limited is an electrical utility in Uganda that generates revenue from expanding the grid, a key climate solution.

CIE is an electrical utility operating in the Ivory Coast. They do generate their own power and some is from fossil fuels, so we exclude them.

Metair is a South African provider of energy storage systems for homes and buildings, serving multiple markets.

Equatorial Energia is a Brazilian electricity distributor. Because it does not own any generation, we exclude them.

Ecopetrol is an energy company in Columbia that generates a majority of its revenue from oil. It also makes biodiesel and grid expansion, both climate solutions.

Afluente Transmissao is a Brazilian electrical distributor. Because it does not own any generation, we exclude it.

Centrais Elétricas de Santa Catarina is a Brazilian utility that generates 100% of its electricity from hydropower that does not require the burning of fossil fuels.

COELCE is a Brazilian distributor of electricity. As they do not own any generation, we exclude them.

Enel Americas is a major electrical utility in Latin America. It fails our utility filter because it does not generate all of its electricity from carbon-free sources.

Pomifrutas is a Brazilian producer of apples a perennial crop.

Bicicletas Monark is a Brazilian bike manufacturer. We exclude them because while more bikes is better for climate, they do not generate most of their revenue from electric bikes which more generally replace fossil fuels for commutes.

Empresa Regional is a Peruvian electrical utility. Because it only owns transmission lines and not generation, we exclude them.

Ampla Energia is a Brazilian electricity distributor. Because it does not own any generation, we exclude them.

Empresa Distribuidora is an Argentinian electrical utility. They do not provide a breakdown of how much of their electricity is generated from clean sources, so we exclude them.

All Cosmos Bio-Tech sells fertilizers in Malaysia. We no longer consider fertilizers, even bio-organic ones, a climate solution, as they do not help prevent food waste, so we exclude them. Not to mention most of their fertilizers are for the palm oil industry, which is highly environmentally destructive.

Enel Distribucion Peru is a Peruvian distributor of electricity. Because it owns no generation, it does not meet our utility filters.

Molibdenos y Metales is a Chilean mining company. While it does produce molybdenum, a critical mineral for the climate transition, it also makes rheunium, which is not, so we exclude them.

Enel Distribucion is a Chilean electricity distributor. Because it does not own any generation, we exclude them.

Southern Peru Copper is a Peruvian copper mining company, a critical mineral, but it also mines many other minerals, including coal, meaning we do not include it.

Sociedad Transmisora is a Chilean electricity distributor. Because it does not own any generation, we exclude them.

Empresa Distribuidora is a Argentinian electricity distributor. Because it does not own any generation, we exclude them.

Compañia de Transporte is an Argentinian electrical grid maintenance and expansion company, a key climate solution.

Equatorial Maranhao is a Brazilian electricity distributor. Because it does not own any generation, we exclude them.

Zhejiang Weiming is a Chinese operator and owner of 41 waste to energy plants. Waste to energy is a "regretful" climate solution as though it does lead to GHG emissions and pollution, the impact is generally less than letting waste rot (and emit methane) and reduces the demand for extracting raw fossil fuels to generate electricity.

Yingkou Jinchen is a solar manufacturing company in China that specializes in various parts of the solar manufacturing process that help make solar panels robust and able to operate in the field for decades.

Flat Glass Group is a Chinese manufacturer of various types of glass including glass for solar panels, dynamic glass that will dim when exposed to the sun, and high-performance glass that helps keep buildings insulated.

Chongqing Sanfeng is a Chinese operator of waste to energy plants. Waste to energy is a "regretful" climate solution as while burning waste does result in GHG emissions, it is generally less than the methane from letting waste rot and it avoids the need to extract raw fossil fuels for generating electricity.

Ming Yang Smart Energy generates a majority of its revenue from selling products for the wind industry with some additional revenue coming from building data centers.

China Yangtze Power Co owns, operates, and invests in hydropower projects in China and around the world. Their projects generate electricity without burning fossil fuels.

Shenzhen New Energy specializes in making systems that enable other companies to manufacture the components that go into solar panels.

NYOCOR is a Chinese developer of solar and wind projects for the domestic market, thus helping more of China run on zero-carbon energy.

LEAD specializes in automated manufacturing processes and generates a majority of their revenue from manufacturing parts, components, and processes for the EV and solar industries.

Huaneng Lancang River Hydropower is a Chinese developer of hydropower projects, an important source of zero-carbon energy. It also develops wind and solar projects.

Ginlong is a Chinese manufacturer of electricity inverters that are used to transform power captured by solar panels into usable electricity for the power grid.

Suzhou Maxwell is a Chinese company that specializes in building solar cells and other components that are used in solar panels.

Shenzhen Senior Technology generates a majority of its revenue from building and manufacturing components for lithium-ion batteries, an important climate solution.

Riyue Heavy Industry is a Chinese company that does make products for the wind industry, but generates a majority of its revenue from non-climate solutions like injection molding machines, diesel engines, and giant mining machines.

Eve Energy is a Chinese manufacturer of lithium batteries that are used for both energy storage and powering of devices that enable the automation of buildings and smart meters to more efficiently use electricity.

Capchem is a Chinese chemical company that makes over 75% of its revenue from selling chemicals that are used in lithium ion batteries.

TCL makes the majority of its revenue from building solar panels and related equipment that are used in the solar industry.

China Southern Power Grid Energy Efficiency generates a majority of its revenue from identifying areas that electricity users could be more energy efficient. Identifying and fixing such opportunities is an important climate solution as demand for electricity grows, it must be used as efficiently as possible.

Kedali is a Chinese manufacturer of batteries and auto-parts. While they do sell auto-parts for traditional ICE cars, they generate a majority of their revenue from EV parts and batteries.

Tinci is a Chinese chemical manufacturer that makes over 90% of its revenue from selling lithium for use in lithium ion batteries, a key climate solution.