Global Climate Solution Stocks

FREYR Battery unfortunately went out of business in 2024.

Construcciones y Auxiliar de Ferrocarriles is a Spanish company that makes a majority of its revenue from providing passenger trains from high speed to electrified metro, thus enabling more people to use public transit instead of driving. They also make a series of buses, another important mass transit solution.

Unicorn Mineral Resources is an Irish mining company that still seems to be in the exploratory phases of its mine and what it could find there.

PGE Polska is a Polish electrical utility that generates most of it power from fossil fuels.

EMKA is a Bulgarian cable manufacturer. While they do generate cables used in the electrical grid, they also generate a wide variety of other cables and they do not provide a revenue breakdown.

Mahvie Minerals is a Swedish mining company. While they do extract and refine some critical minerals like copper and zinc, they do not provide a revenue breakdown we could find of how much they get from these vs. silver and gold, so we exclude them.

Triboron is a Swedish group that offers a plant-based lubricant that seems to generally be marketed towards making internal combustion engines more efficient, which is not a direct climate solution.

Akwel is a French manufacturer of auto parts that generates almost all of its revenue from generic parts like door handles and windshield wipers, so we exclude them.

TopRight is a Swedish company that makes high end LED lights and windows with insulating glass that can keep buildings maintain a stable internal temperature with less energy.

Groupe Airwell Societe is a French company that specializes in the sale of more energy efficient heat pumps.

Ecoslops recycles oil residues and things like used motor oil into fuels that can be used again. While recycling is a Drawdown solution, we exclude Ecoslops because their business is reliant upon the continued use of fossil fuels

Audax Renovables is a large Spanish renewable energy developer with wind and solar projects throughout Europe. They also distribute gas, but this is a minority of their revenue.

Smart Organic is a Bulgarian provider of organic food, snacks, and raw ingredients. While many of their products are plant-based, they do not specialize in offering products that can directly replace animal-based foods, so we exclude them.

Blue Island is a Cypriot aquaculture company. We could not find any detailed information on if they are implementing practices to reduce resource consumption, so we exclude them.

Circle Energy is a Swedish company that purports to offer biodigesters, but we could not find confirmation of their revenue, so we exclude them as of our 2025 review.

Comal is an Italian manufacturing company that specializes in building high-voltage solar farms and the necessary components. It also has some legacy service agreements for traditional thermal energy, but it is a minority of its business at this point.

Remarul 16 is a Romanian manufacturing firm that builds parts for locomotives and services train cars. While they do build parts for electric locomotives, they do not break down what % of their revenue is from this, so we exclude them.

Alba is a German waste management company that makes a majority of its revenue from steel and metal recycling, an important climate solution that avoids the need to extract raw metals from the natural world.

CLERHP Estructuras is a Spanish construction firm. While they do generate some revenue from building wind turbines, they generate most from generic construction activities like buildings and roadways.

Caromet is a Romanian manufacturing firm that builds parts for locomotives and train bridges. While they do build parts for electric locomotives, they do not break down what % of their revenue is from this, so we exclude them.

Lopez Holdings is an owner of FGEN which is a large renewables developer in the Philippines with a specialty for geothermal

NexGen Energy Corp. is a Thai developer of renewable energy resources like solar and wind. They do generate electricity from biomass which we do not consider a climate solution, but it is a small part of their generation mix.

Reservoir Link is a Malaysian large developer or renewables that generated 60% of their revenues from renewable projects and 40% from oil and gas.

TPC Power is a Thai generator of electricity that generates a majority of its electricity from zero carbon sources like solar, wind, and hydro

UAC Global does some work in renewables, but generated 76% of their revenue from distributing chemicals, which is not a climate solution.

Kinergy owns about 30 different subsidiaries in SE Asia, most engaged in climate solutions. Unfortunately some are also gas turbine companies and despite our searching, we could not find a breakdown of their revenue in our 2025 review.

Can Don Hydro Power Joint Stock Company is a Vietnamese electric utility that generates all of its electricity from hydropower, a carbon-free power source.

Mega First Corporation generated 41% of its revenue from owning renewable energy, but the rest from non climate solutions like packaging, so we exclude them

Leoch International is a large battery manufacturer in Singapore. While they do make batteries for energy storage and EVs, they make a majority of their revenue from lead-acid batteries that are used inside of datacenters and medical devices, which are not climate solutions.

Manila Electric Company is a large Filipino utility that does not disclose its generation mix, so we exclude them

Megapower Makmur is a pure play solar developer based in Indonesia with projects in Australia

Meta Corporation is a Thai group that has historically done some work in renewables but did not report any revenue from it in their latest annual report, as of our 2025 review.

Supreme Cable Manufacturing is an Indonesia manufacturing firm that generates 90% of its revenue from cabling using in expanding the electrical grid and enabling the electrification of everything.

G Capital is a Thai business that specializes in enabling buyers of industrial equipment in Thailand to pay over time. They do this for some climate solutions like mini-hydropower systems, but generate more of their revenue from agricultural equipment

Solar District Cooling Group is a Malaysian company that specializes in building automation, a key climate solution that can reduce the amount of energy needed to keep a building at a stable temperature. They also install solar hot water heaters.

Charoen Pokphand Foods is a large Thai producer of meat. While they do some advanced aquaculture in shrimp farming, this only makes up 13% of their revenue, so we exclude them.

Wasco Berhad is a Malaysian company that does some business in biofuels but generates a majority of its revenues from traditional fossil fuels.

Banpu Power Public Company is a Thai producer of electricity. While it does own solar and wind generation, a majority of its generation comes from thermal sources like oil and gas.

Malakoff Corporation Berhad is a Malaysian conglomerate that owns multiple power plants. Unfortunately most are thermal, so we exclude them.

Noco-Noco is a Singapore based technology company that is developing a technology that can enable battery powered energy storage systems to last longer. They have not reported revenue yet as of our 2025 review, but this is their sole focus.

Marine Electricals is an Indian construction company that specializes in serving the shipping industry. They also offer an automated building management system, but this is a fraction of their revenue.

Ahasolar builds software for the solar industry in India working to help expand the industry and help it run more efficiently.

Waa Solar is an Indian solar developer that owns multiple solar farms in the region, helping more of it run on sunshine instead of fossil fuels.

Indian Railway Finance Corporation specializes in granting leases to build out rail services in India. While this is critical to building railways, an important part of mass transit, it is fundamentally secondary to the primary activities of building and operating, so we exclude them.

MSTC engages in multiple business lines in India. While it generates some revenue from scrap recovery, it generates most from e-commerce, so we exclude them

Veer Energy is a pure play wind developer in India having built seven farms so far and counting.

Mena Mani claims to be involved in biofuel, which can be a climate solution, but they seem to be out of business, so we cannot clarify.

Associated Ceramics makes ceramic bricks that are used in the cement and aluminum industries. They say they also engage in solar energy, but we could find no confirmation of this in their financials.

Narmada Macplast Drip specializes in offering drip irrigation technologies so farmers can use less water to raise their crops.

Shivamshree Businesses is a pure play provider of solar systems in India, enabling more of that grid to run on sunshine.

BKV Industries seems to own a shrimp farm, but they offer no information on their farming practices and their relative efficiency, so we exclude them.

Rex Pipes and Cables makes some climate solutions like cables for the electrical grid and, interestingly, automotive buses, but they make pipes and sprinklers and other products that are not climate solution. They do not provide an accurate revenue breakdown of use cases between them, so we exclude them.

Ramco generates most of its revenue from providing cement in India. While they talk a lot about sustainability, they do not seem to actually be incorporating any kind of lower carbon, alternative cements, so we exclude them.

Sejal Glass is an Indian manufacturer of high quality architectural glass that helps buildings stay better insulated.

Kay Cee Energy & Infra specializes in siting and constructing electricity transmission towers that enable the electrical grid to expand.

Hariyana Ship Breakers specializes in breaking down old ships to extract the valuable metal so it can be repurposed, reducing the demand for virgin materials.

Trom Industries is a solar pure play company in India. They serve as a solar developer as well as offering solar products like rooftop systems and even deep freezers.

Jayshree Chemicals generated 6% of their revenue from wind power when last reported and 94% from chemicals, so we exclude them.

Australian Premium Solar India is a pure play manufacturer of solar cells in India, enabling more of the country's electrical grid to run on sunshine.

We could find no online information about GR Cables at all, so we exclude them for lack of information.

TotalEnergies is a Senegalese company that offers fuel, gas, and solar lamps. We dug into them for the latter, but they generate most of their revenue from fossil fuels, so we exclude them.

Societe Tunisienne de Verreries is a Tunisian manufacturer of glass bottles. While high performance glass windows are a climate solution as they help better insulate buildings, glass bottles are not.

Multiverse Minerals is a Nigerian mining company that does extract some minerals critical for the energy transition, but generates most of its revenue from other minerals like gold.

CEC African Investment invests into many power plants in Africa. They have not updated their materials since 2021, so we cannot accurately determine their mix of zero carbon vs. fossil fuel generated electricity.

The Egyptian Company for Construction Development generates some of its revenue from building electrical transmission lines (a climate solution) but a majority from building and maintaining desalination plants, an important service, but not a climate solution

Auto Nejma Maroc is a Moroccan provider of heavy duty vehicles. They are all ICE vehicles and offer no electrified alternatives.

While Gold Fields Limited does explore for some critical minerals like copper, it generates a majority of its revenue from, well Gold, which is not a critical mineral for the energy transition.

Transcorp Power is a Nigerian electricity provider. They provide their electricity from a gas plant, so we exclude them

Sappi Limited is a South African paper and cardboard manufacturer. While they do integrate recycled pulp into their process it is less than 50%, leading to us to exclude them

Gadwa for Industrial Development is an Egyptian company owned by AMG, a Saudi Arabian Conglomerate. They report to make cables but show no information on whether they are high-voltage electrical cables for the grid or low-voltage for electronics or residential use, so we exclude them for lacking information.

Travaux Généraux de Construction de Casablanca is a Moroccan general construction company. While they have done some work on solar systems, the vast majority of their revenue comes from traditional construction activities.

While Impala Platinum does explore for some critical minerals like copper, it generates a majority of its revenue from, well Platinum, which is not a critical mineral for the energy transition.

John Holt is a Nigerian company that generates a majority of its revenue from distributing power generation systems that are almost all diesel generators. They also generate revenue from boats and firefighting equipment, neither of which are climate solutions.

One Tech Holdings is a Tunisian electronics conglomerate. While they do make some products for the electrical grid, the majority of their revenue comes from traditional electronics manufacturing like circuit boards.

While RioZim does explore for some critical minerals like copper, it generates a majority of its revenue from gold, which is not a critical mineral for the energy transition.

While African Rainbow does explore for some critical minerals like copper, it generates a majority of its revenue from gold, which is not a critical mineral for the energy transition.

KenGen is a Kenyan utility that sources 86% of its electricity from zero carbon sources like hydro, geothermal, and wind.

Aveng Limited is a South African construction firm. While they do engage in a few climate solution areas like rail and electrical grids, they generate a majority of their revenue from non-climate solution construction like buildings and roadways.

While Wesizwe Platinum does explore for some critical minerals like copper and cobalt, it generates a majority of its revenue from precious minerals like platinum and gold

While Exxaro Resources does operate two wind farms in South Africa, it generates a majority of its revenue from extracting coal.

ForRich is a Jamaican lighting and electrical services company. They provide energy efficient lighting, solar systems, and grid connection services to businesses in Jamaica, thus enabling more processes to run on electricity instead of fossil fuels

Salmones Camanchaca is a Chilean provider of farmed salmon. They track the efficiency of their fisheries to improve energy usage and reduce climate impacts, enabling them to make more protein with fewer resources.

Grupo Energia Bogota is a Columbian electrical utility that does not publish their electrical generation mix, so we exclude them

ISA Energia Brasil specializes in building high transmission power line projects that expand the electrical grid, an important-precursor to the electrification of everything

Equatorial Pará Distribuidora de Energia is a Brazilian utility that does not disclose their full electricity generation mix, so we exclude them

Wetzel is a Brazilian provider of Industrial LEDs as well as automotive parts and materials for low-voltage electrical installations. They do not disclose how much of their revenue they make from their LED business in their investor relations, so we exclude them

Conciviles is a Colombian construction company. While they do help build electrical transmission systems, an important climate solution, they generate more of their revenue from constructing roads and buildings.

Enel Generacion Piura is a Peruvian electric utility that generates most of its electricity from thermal sources, so we exclude them

Enel Generación Chile is a Chilean utility that generates almost 40% of its power from thermal sources, so we exclude them

Light is a Brazilian utility that generates all of its electricity from renewable assets

Monteiro Aranha is a Brazilian conglomerate involved in the paper, petrochemical, and real estate industries. While they do make some revenue from recycling paper, it is much less than half.

Companie de Electricidad de Tulua is a Columbian utility that generates power from multiple sources, including thermal. We could not find any publication of the exact mix of their sources however, so we exclude them

Natluk is an Ecuadorian company that provides wild and farm-raised shrimp. While more efficient fisheries are a climate solution, we could find no indication that Natluk was instituting any practices that would achieve this

COPEL is a Brazilian utility that generates 100% of its electricity from zero-carbon sources like hydro, solar, and wind

Irani is a large Brazilian paper and cardboard company. While they do seek to source their paper from sustainably managed forests, scaling paper and cardboard production will not mitigate climate change. They do generate some revenue from recycling, but it is a small amount, so we exclude them

Klabin is a large Brazilian paper and cardboard company. While we commend them for their efforts in sustainable forest management, the only climate solution they participate in directly is recycling, which makes up less than half of their revenue

Tecnoglass is a Columbian company that generates all of its revenue from providing high performance glass for buildings that enable them to keep a stable internal temperature with less energy

Rumo is a large Brazilian rail freight shipping company. They neither participate in passenger trains (mass transit) not seem to be investing in electrifying their train fleet, so we exclude them

Blumar is a Chilean provider of farm raised salmon. While making aquaculture more efficient is an important climate solution, we could not find any evidence that Blumar was investing in any activities beyond industry standard.

Ambipar is a Brazilian conglomerate that does emergency response, waste management, and risk planning. They do not generate a majority of their revenue from waste management with methane capture, so we exclude them

Titan Wind Energy is a Chinese manufacturer, installer, and developer of wind farms all around the world.

Chengxin Lithium is a Chinese company that makes a majority of its revenue from mining and refining lithium for use in batteries. It also makes some revenue from forestry projects, but it seems to be moving away from this business.

Gem is a China-based recycling company that takes used electronics and cars and extracts raw materials that can be used again in making batteries and other products, this making the economy that much more circular. In 2025 we upgraded them to a pureplay in this index.

Xinjiang Goldwind is a Chinese manufacturer of wind turbines, solar panels, and energy storage systems. Special shoutout for their aggressive plans to have a zero carbon manufacturing process.

China Tianying generates a majority of its revenue from solar and waste to energy plants, a regretful but necessary climate solution as it reduces the demand for new fossil fuels.

As of 2025, TCL makes the majority of its revenue from building solar panels and related equipment that are used in the solar industry.

Shanghai Hiuv New Materials is a Chinese producer of thin films that are primarily used for solar panels but also a variety of other applications in the Chinese market.

Shuangliang Eco-Energy Systems seems to no longer be in the business of solar panels, but focuses on machines that can use waste heat for a variety of uses, with the top one being for the petrochemical industry. We therefore exclude them from the 2025 research.

Jiangsu Cnano is a Chinese manufacturer of carbon nano-materials that are primarily used in lithium batteries as well as in paints.

Ningbo Xusheng is a Chinese company that specializes in making lightweight materials for the EV industry that help EVs move with less power needed. They also build aluminum structures for energy storage applications another key climate solution

Shenzhen Yinghe Technology makes industrial machines and processes for manufacturing both lithium ion and solid state batteries, both of which are key climate solutions.

Zhejiang Jingsheng Mechanical & Electrical Co generates a majority of its revenue from building machines that grow solar cells. They also make revenue from machines for the semiconductor industry.

As of 2025, Yunnan Energy New Materials makes a majority of its revenue from producing thin films that are used in lithium-ion batteries.

As of 2025, KBC Co generates a majority of their revenue from products for various climate solution industries like solar, hydro, and energy storage.

Beijing GeoEnviron is a Chinese waste management company. They do not disclose how much of their revenue comes from waste to energy or recycling (both of which are climate solutions). Nor how many of their landfills have methane capture equipment installed, so we exclude them for lacking information.

Sichuan Chuantou Energy is a Chinese investment company that owns stakes in multiple power plants and two technology companies. As of our 2025 review, most of their owned power plants are hydropower, but some are coal, meaning they fail our utility filter.

As of 2023, we noted that Beijing Sifang Automation makes power transmission and automation processes for a range of industries in the electricity and power space. Now in 2025 we exclude them for they still do not disclose the revenue breakdown from their businesses lines for fossil fuel power plants vs. renewables and hydro, so we exclude them for lack of information.

Chongqing Fuling generates a majority of its revenue from expanding the electrical grid in China and improving its efficiency, both of which are key in the process of switching our economy to running on electricity instead of fossil fuels.

In 2023, we noted that Shanghai Environment Group is a municipal waste company in China. As of 2025, they do not disclose how many of their landfills have methane capture on them, so we cannot see if they pass our 50% threshold.

In 2023 we noted that Luoyang Xinqianglian makes large bearings for a number of different applications: wind turbines, tunnel boring machines, and offshore cranes. As of 2025, they do not give a revenue breakdown from each segment, so we remove them for lack of information.