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Highlights:
- Australia has been witnessing environmental issues with no end in near sight.
- Many temperate zones and coastal ecosystems across the country have been extensively altered, and many wetlands have been degraded.
- Amid all this, a few environment-focused stocks like Clearvue Technologies, NEW Energy Solar and Envirosuite, are making waves on the ASX.
Australia, once known as the land of wetlands and corals, is now battling ecosystem depletion, decline in native vegetation, soil and water and extreme weather events like floods, droughts, and wildfires. A landmark five-year report, '2021 State of the Environment Report' that came out in July 2022, suggested severe deterioration across biodiversity, habitat loss and pollution in almost all regions of Australia. The State of the Environment Report is a mandatory assessment every five years.
Here are some crucial findings from the report:
- The report stated that over 1,900 Australian species and ecological communities are threatened and face extinction risk.
- Over the past couple of centuries, Australia alone has lost more mammal species compared to any other continent.
- Four of the top 5 global risks are associated to the environment: severe weather, climate action collapse, human environmental impairment, biodiversity loss and ecosystem breakdown.
- Biodiversity and green spaces in urban situations are associated with stress reduction and mood enhancement.
- The report defines environmental degradation as an “existential threat” to humanity.
Against this backdrop, let us look at some ASX-listed companies trying to contribute towards a greener environment in Australia- ClearVue Technologies Limited (ASX:CPV), NEW Energy Solar Limited (ASX:NEW) and Envirosuite Limited (ASX:EVS).
ClearVue Technologies Limited (ASX:CPV)
ClearVue Technologies is a renewable power generating company headquartered in Perth, Australia. The company has a market capitalisation of AU$49.92 million.
ClearVue claims to use an age-old building material – clear glass, to produce energy. The method involves harnessing power from the sun via windows constructed with an interlayer made of a formulation of nano and microparticles. The elements of the coming light are internally diffused, redistributed and reflected towards the edges of the glass panel. There, it is collected by monocrystalline silicon-based PV modules that are placed into a circuit, optimised to handle energy rays from all directions.
ClearVue recently received an R&D tax credit of AU$812,830 from the Australian Taxation Office. The R&D tax credit claim, related to research and development work, was completed during the last year. It included various activities like ClearVue's research programme with D2 Solar in the US and greenhouse research work at Murdoch University in Western Australia.
On the ASX, the company shares are valued at AU$0.200 apiece as on 17 January 2023. Shares have gained 22.22% in the previous month. In the last six months, ClearVue has lost 8.33% and in the last one year of trading, the company has lost 45.00%. (As of 17 January 2023).
NEW Energy Solar Limited (ASX:NEW)
New Energy Solar is a utility sector firm with a market capitalisation of AU$64.11 million. It claims to be Australia’s first ASX-listed solar infrastructure business. Headquartered in New South Wales, the company invests in a diversified portfolio of solar assets across the world. It acquires, owns, and manages large-scale solar generation facilities. It claims to have invested a capital of more than AU$1.3 billion so far.
New Energy revealed its weekly estimated unaudited net asset value (NAV) figure on 16 January 2023. The NAV stood at AU$0.21 per share. In its quarterly report shared in November 2022, New Energy shared that energy generation was below budget expectations by 6.2%, revenue dipped by 5.2% for the quarter to 30 September 2022.
Meanwhile the shares of the company were pegged at AU$0.195, down 2.500% on 17 January 2023. In the last one month of trade, the company has gained 2.63%, lost 76.79% in the last six months and tumbled by 76.22% in the last one year (As of 17 January 2023).
Envirosuite Limited (ASX:EVS)
Envirosuite is a software and services company with a market capitalisation of AU$170.18 million.
In its FY23 first quarter report shared in October 2022, Envirosuite shared a total sale of AU$3.4 million and total ARR (annual recurring revenue) of AU$55.2 million, up 13.6% on prior corresponding period. Also, the company added 18 new sites during the quarter.
Shares have lost 3.85% in the last one month of trading on the ASX. In the last six months, the company has shed 21.88% and in the last one year of trade, the company shares have tumbled by 47.92% (As of 17 January 2023).
