A recent report from the United Nations Intergovernmental Panel on Climate Change (IPCC) called for “far-reaching and unprecedented changes in all aspects of society” to avoid the potentially catastrophic impacts of global warming.
At the current rate, the report forecasts that “the world would reach human-induced global warming of 1.5 degrees Celsius around 2040”.
To avoid this future, the report states that the world economy must be transformed in a way that has no historical precedent. Many leaders in the private and public sphere are working to prepare for this future, but climate change analysis also has its detractors.
In any case, even oil and gas industry leaders are making significant investments in renewable energy. Investors who want to take advantage of growing investment in renewable energies may want to consider the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN).
The ETF was down 1.17% in mid-afternoon trading on October 23. Shares are down 9.6% in 2018 so far. With the recent global selloff, the ETF could come at a nice discount for long-term investors.
Some of its top holdings include Albemarle Corp., a specialty chemical manufacturing company, Tesla Inc. (NASDA:TSLA), and Brookfield Renewable Partners LP (TSX: BEP.UN), which also boasts a TSX listing.
Shares of the ETF have increased 21% over the past three years and had almost uninterrupted momentum before lagging in 2018. The ETF is worth adding in your portfolio today.
