With the world fighting to go green, clean energy stocks are a safe long-term bet.
For one, at the 2023 Conference of the Parties (COP28) meeting, 200 countries agreed to transition from fossil fuels, drafting text that would result in “tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030,” according to CNBC.
Two, according to the International Energy Agency (IEA), the world has a “real chance” of achieving those COP28 targets. The agency added that the world added about 510 gigawatts of renewable energy capacity in 2023, a 50% jump year over year.
Even companies like Honeywell (NASDAQ:HON) are realigning business around renewables. According to CEO Vimpal Kapur, “Honeywell is in a unique position to both help the world meet today’s growing energy needs, while also enabling the energy transition,” as also added by…
