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Highlights
- The New Zealand government has been given a draft plan for the country’s emissions reductions for 2022-25 by the Climate Commission.
- Trustpower appoints a new GM, Growth and Trading.
- Mercury NZ gets a BBB+ rating from S&P Global Ratings.
New Zealand’s Climate Change Commission had advised the national government on its emissions budgets and has given a roadmap, backed by scientific analysis and targets for its emissions reductions for 2022-25.
It has proposed that the Kiwi nation must cut nearly five million tonnes of toxic emissions each year between 2022 to 2025, to achieve its commitments.
It is noted that NZ has committed to becoming carbon-neutral by 2050 and curtailing its methane emissions between 24-47% by 2050.
Hence, the NZ authorities are working towards publishing their first detailed emissions reduction plan for the nation.
Having said that, let us explore the five NZX-listed clean energy stocks.
Source: © 2021 Kalkine Media® data source- Refinitiv
Trustpower Limited (NZX:TPW)
Trustpower Limited is a leading energy provider across New Zealand. Lately, the Company has announced the appointment of its new GM, Growth and Trading, Rob Buchanan.
He would take charge as the new GM by early next year.
Further, Peter Calderwood, its GM, Strategy and Growth, has sought a departure from the Company towards the end of January 2022.
On 13 December, at the closing bell, Trustpower gained by 1.38% at NZ$7.370.
Related Read: Are these 5 NZX mid-cap aiming to become large-cap stocks?
Meridian Energy Limited (NZX:MEL; ASX:MEZ)
Meridian Energy Limited produces clean energy from renewable sources. Recently, the energy giant revealed an executive long-term incentive scheme for a selected number of senior employees to retain them.
Must Read: Is Meridian Energy(NZX:MEL) on a growth path post FY21?
Those who have accepted the said offer, have been issued rights by the Company to acquire a specific number of its ordinary shares.
On 13 December, at the closing bell, Meridian Energy dipped by 0.85% NZ$4.680.
Mercury NZ Limited (NZX:MCY; ASX:MCY)
The country’s famous electricity generator and energy retailer is Mercury NZ Limited. A few days back, the Company revealed about the grant of BBB+ credit rating from S&P Global Ratings.
Interesting Read: Mercury NZ (NZX:MCY): Is it 100% renewable energy company?
The said rating exhibits a stable outlook for MCY.
On 13 December, at the closing bell, Mercury NZ rose by 1.65% at NZ$6.150.
Infratil Limited (NZX:IFT; ASX:IFT)
Infratil Limited would reward its shareholders by distributing them an interim dividend of 6.0 cps on 23 December.
Do Read: What does Infratil’s (NZX:IFT) investment activity reflect?
It saw a 28.2% growth in its proportionate EBITDAF, amounting to NZ$253.6 million, majorly on account of strong business performance amid the COVID-19 pandemic.
Further, IFT has fixed the foreign exchange rate at AU$0.9577 for the payment of the said dividend to the Australian investors.
On 13 December, at the closing bell, Infratil was down by 0.68% at NZ$8.045.
Genesis Energy Limited (NZX:GNE; ASX:GNE)
Another famous energy generating company is Genesis Energy Limited. Recently, the Company disclosed about the stepping down of both its Chief Digital Officer (CDO) as well as Chief Operations Officer (COO).
A Quick Read: Genesis (NZX:GNE): What steps has it taken towards solar development?
While COO would leave GNE in February 2022, MCY’s CDO would step down towards the end of June next year.
The Company is looking for suitable replacements for the said positions.
On 13 December, at the closing bell, Genesis Energy increased by 1.89% at NZ$2.960.
Bottom Line
New Zealand is working tirelessly towards its pre-set commitments regarding emissions and is hopeful of soon publishing detailed policies to achieve them.
