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Stock impact report

Climate Funds Look to Regain Footing After Three Down Years [BNN Bloomberg (Canada)]

Morningstar, Inc. (MORN) 
Company Research Source: BNN Bloomberg
The renewables industry has been battered by rising interest rates, which have been especially damaging for new solar projects, and disappointing earnings, caused largely by higher capital costs and lower profit margins. Morningstar Inc., however, says there are better times ahead. Analysts there say they've identified 10 climate funds where the long-term outlook is “bright.” They base their conclusions on an analysis of funds they consider highly rated, focus on clean energy themes and are successful at “delivering positive climate impact.” Four of the 10 funds don't have much of a track record since they've only been open since early 2022. And many of the funds are very small, like the $1.7 million VanEck Green Infrastructure exchange-traded fund (ticker RNEW) and the $4.2 million Xtrackers US Green Infrastructure Select Equity ETF (UPGR). Still, two have Morningstar's highest gold medal rating: the $147 million Calvert Global Energy Solutions (CAEIX) and the $24 million JPMor Show less Read more
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