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Highlights
- Green investing has become a buzzword as the world struggles with climate change.
- More people are now making greener choices in terms of investing as they are confronted with increasingly extreme weather conditions in the hopes of reducing the environmental ill-effects.
- A number of environment-focused Canadian companies, which are currently working towards helping people with energy-efficient lifestyle, can become an eminent part of the economy in the years to come.
Green investing has become a buzzword as the world struggles with climate change.
More people are now making greener choices in terms of investing as they are confronted with increasingly extreme weather conditions in the hopes of reducing the environmental ill-effects.
A number of environment-focused Canadian companies, which are currently working towards helping people with energy-efficient lifestyle, can become an eminent part of the economy in the years to come.
Let us get to know some TSX-listed green stocks on that note.
Hydro One Limited (TSX: H)
Hydro One saw its Q3 net income surge to C$ 300 million in fiscal 2021, up from C$ 281 million a year ago, which led its earnings per share to reach C$ 0.5.
The Toronto-based utility company also saw its stock jump by roughly 11 per cent year-over-year (YoY).
The utility stock closed at a value of C$ 32.77 apiece on Tuesday, February 8.
Also read: BMO & RBC (RY): 2 TSX dividend stocks that can boost your passive income
Canadian Utilities Limited (TSX: CU)
Canadian Utilities Limited posted adjusted earnings of C$ 88 million in Q3 FY2021, up by C$ 12 million from the previous-year quarter.
The Calgary-based utility company is also scheduled to pay a quarterly dividend of C$ 0.444 apiece on March 1.
Stocks of Canadian Utilities closed at C$ 35.85 apiece on Tuesday, returning a one-year gain of about 14 per cent.
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Bottomline
A number of people around the world believe that green energy sources and clean technology can help in curbing the rising environmental adversities and concerns around us.
Some green companies in Canada can play a key role in the future as demand for renewable sources rises further, giving them a chance to grow. Also, new developments in the green space can bolster their stock performance.
Also read: Saputo (SAP) & Loblaw (L): 2 TSX stocks for you as milk prices rise
