With the U.S government taking steps to move forward on its “green” promises, it looks like the low carbon energy sector is set to continue its rise.
At the two-day Earth Day Summit which commenced on 22 April 2021, the U.S. Department of Energy, along with other international governing bodies, announced six new initiatives that will expand international cooperation around tackling clean energy innovation and climate awareness. The climate summit, which was orchestrated by President Biden, included roughly 40 world leaders and aimed to put climate at the center of foreign policy. The initiatives that the United States unveiled at the summit included ambitious goals such as 100% clean electricity by 2035, net-zero carbon emissions by 2050, cutting emissions by 50-52% from 2005 levels, and the launch of new partnership with India to speed up clean energy deployment.
The impact on the green-energy industry over the last 12 months can be seen in the MVIS Low Carbon Energy index (MVSMOG). MVSMOG, which tracks the largest and most liquid companies whose revenues are made up of at least 50% from renewable sources of energy, has experienced hyper-growth over the last year, with spikes around President Biden’s election win and the presidential inauguration in January as he has pushed this agenda since his presidential campaign. With President Biden continuing to push green-energy initiatives, the sector looks to continue to rise.
MVIS Global Low Carbon Energy
02/27/2020-02/27/2021
Steven Braid is a Data and Marketing Analyst at MV Index Solutions. He is responsible for supporting the data, marketing, research, and product services. Prior to working for MVIS, Steven worked as an equity research analyst for Dane Capital Management, a special situations hedge fund, where he focused on SPACs and other forms of special situation transactions. Prior to his time in Finance, he worked as a professional journalist, publishing for the New York Times, USA Today, and other national periodicals. Steven has a M.S. in Data Analytics & Applied Research from the Baruch College Zicklin School of Business, and a BA in International Political Economy from the University of Michigan.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.