As Joe Biden enters into his presidency, the tides are turning to refocus on renewables. As evidenced by the United States’ rejoining of the Paris Climate Agreement, Biden plans to reach carbon-free electricity by 2035. This would also be good news for anyone planning on pursuing new, low-emission product or company ideas, so sustainable entrepreneurs, get pumped.
However, these plans will be particularly exciting for anyone looking to invest. Biden plans on spending roughly $2 trillion dollars to increase building energy efficiency and plans to make transportation more energy efficient (likely by focusing on electric vehicles and public transportation). Key clean-energy and sustainable technology producers have remarked about feeling hopeful for the industry with Biden in office. In other words, it’s likely these industries will experience growth with Biden in office.
If you have some spare change hanging around, investment into renewables may be a good place to start. Although there are many other factors (ie. how much and how long you are willing to wait for payoff), impacting how well an investment will turn out, choosing the right industry and company are two of the biggest deciding factors. You should certainly educate yourself on the stock market before investing, but keeping in mind the changing political mindset while investing will also help you make the right choices. Additionally, renewable investing is more likely to align with your actual values. By investing in a company you actually agree with, you're actually directly bolstering that company’s values and impacts to a wider audience. In either case, steer away from investment in emission heavy companies or industries, our morals should steer our investing.
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