Global Climate Solution Stocks

Farmy Fotowoltaika Polska is a Polish solar developer

Rockwool, operating out of Denmark, makes high quality insulation that enable buildings to use less energy to keep a comfortable internal temperature.

Crescent is a Belgian tech firm that offers some products for LEDs and energy-efficient lighting, but generates more revenue from generic IoT products.

Grupo Ezentis is a Spanish company that builds electrical grid systems in Latin America in Europe. It, however, generates more revenue from building telecommunication networks, so we exclude them as of our 2025 review.

SCHMID is a German manufacturer that both makes solar cells and printed circuit boards. We could not find a revenue breakdown by segment, so we exclude them as of our 2025 review.

Ceritech is a German mining company that explores for lithium and rare earth minerals, both critical minerals for the energy transition.

Firering Strategic Minerals is a Cypriot company that owns multiple mines in Africa. While it does explore for some critical minerals like lithium, it generates more revenue from other minerals like limestone, so we exclude them.

While Clontarf is exploring for lithium, it makes the majority of its revenue from oil and gas as of our 2025 review.

Arkle Resources is an Ireland based mining company that explores for multiple critical minerals, but generates more revenue from non-critical ones like gold.

Unibios Holdings owns Watera, which is a Luxembourg-based water treatment firm. While Watera does provide some water efficiency products, they do most of their business in waste water treatment and desalination, which while important, are not direct climate solutions.

While Refine Group seems to have previously focused on second-hand e-commerce, they now seem focused purely on generic e-commerce logistics, so we exclude them as of our 2025 review.

Zeneris is a Polish construction firm that specializes in deploying solar, building hydropower, and managing waterways.

Rodina Capital purported to engage in the renewable energy field, but we could find no evidence of this in their financial statements and online materials, so we exclude them as of our 2025 review.

NIBE is a Swedish producer of energy saving equipment that makes a majority of its revenue from climate solutions like heat pumps and building automation, enabling buildings to maintain a stable internal temperature with less energy.

Vassiliko Cement Works Public Company is a Cypriot company that generates a majority of its revenue from traditional cement manufacturing and a minority from developing solar farms, so we exclude them.

Erato Energy is a Polish company that installs solar systems for houses, businesses, and farms.

Yellow Boson Spólka Akcyjna is a Polish company that installs solar systems for houses, businesses, and farms.

Less is a Polish group that purports to engage in second-hand ecommerce as well as some other non-climate solution activities. We could not find a financial report and they only have 2 reported employees as of our 2025 review, so we will exclude them for now.

Troc is a French online consignment store that connects sellers of second hand goods with buyers, reducing the demand for new goods.

Ekopol Górnoslaski is a Polish company that generates some of their revenue from installing solar roofs, but more from distributing metal products and general construction activities.

Dizon Copper-Silver mines has not started extracting minerals, so we do not know their breakdown of revenue

Licogi 14 is a construction company in Vietnam that does construct hydropower projects, but generates most of its revenue from other public works like roadways.

Licogi 14 is a construction company in Vietnam that does construct hydropower projects, but generates most of its revenue from other public works like roadways.

Zixin specializes in providing sweet potato packaged snacks like potato sticks. While these are plant-based foods, they do not directly replace animal-based products, so we exclude them

Khanh Hoa Power is a Vietnamese utility that generates its power from hydropower, a carbon-free source

St. Augustine extracts copper, but generates most of its revenue from non-critical minerals like gold and silver.

Construction and Investment is a construction company in Vietnam that does construct hydropower projects, but generates most of its revenue from other public works like roadways.

IDI International is a fish production company. They generate more of their revenue from producing feed and fish meal however, which are not directly related to improved fisheries, so we exclude them for now.

Ha Giang Mineral seems to only produce purified antimony which is not listed as a critical mineral for the energy transition.

Philex Mining extracts copper, but generates most of its revenue from non-critical minerals like gold and silver.

Atlantis Subsea Indonesia provides underwater services for the wind industry, but generates the majority of their revenue from providing such services to the oil and gas industry.

Gelex Electricity is a Vietnamese producer of a variety of products from wiring to transformers that are used to expand the electrical grid.

GPP Resources generates most of their revenue from providing biogas and biomass reactors for palm oil farms in SE Asia. We do not consider biomass a climate solution and they do not breakdown their revenue from each category, so we exclude them.

Make To Win is a Thai manufacturer that generated 89% of its revenue from selling electric motorcycles.

Thai Agro Energy makes ethanol based biofuels. We do not consider ethanol biofuels to be a climate solution unless they are derived from waste products.

Asiamet Resources is an Indonesian mining company that generates most of its revenue from extracting critical minerals like copper and zinc.

Light Up Total Solutions is a Thai provider of LED lights that enable users in Thailand to get the same light with far less electricity.

Swift Energy is a relatively new public company. They make process and control systems for a number of industries including both oil and gas and renewables. They do not provide an industry breakdown (yet), so we exclude them for now.

MAG Holdings owns two Malaysian shrimp farms. They say they are in process of installing floating solar panels on their farms, so the farms would not need to run on diesel generators. When this happens, we will include them.

Manila Mining Corporation explores for a critical mineral, copper, but generates most of its revenue from gold and silver which are not critical minerals.

VMS Industries is a shipbreaker in India. They take old ships and recycle them so that their metals can be used again in new ships and other products.

Inox Wind specializes in manufacturing and selling wind turbine towers in India, enabling the grid to run more on wind and less on fossil fuels.

Waaree Renewable Tech offers a variety of solar panel configurations for customers in India, enabling more of India to run on sunshine.

BCPL Railway Infrastructure specializes in electrifying Indian railways, enabling trains to run without directly burning fossil fuels. They also provide services to expand the electrical grid, another key climate solution

V-Marc India specializes in manufacturing cables that are used to expand the electrical grid and enable the electrification of everything.

Jagan Lamps specializes in automotive light bulbs, which is not a climate solution. They do offer electric bikes, but this seems to be a small part of their overall revenue.

Premier Energies is an Indian manufacturer of solar cells and systems, providing panels and a number of solar solutions like solar lanterns in India.

Parmeshwar Metal specializes in manufacturing copper wires that are primarily used in electricity transmission, a key part of the electrification of everything.

Indiabulls Enterprises seems to seek to offer LED lighting, but it's unclear if they do as they have not posted financials. They also seem to be prioritizing other non climate solution industries like construction, so we exclude them.

Sunlite Industries specializes in refining copper into wires and rods so that it can be used in the electrical system. They also recycle copper.

Karma Energy owns a wind farm and hydropower plant in India, enabling the grid to run a little bit less on fossil fuels.

Adani Power is a very large Indian utility that generates almost all of its electricity from coal, so we exclude them.

Promax Power is an Indian construction firm that generated a majority of its revenue from construction projects related to expanding the grid and renewable energy, both climate solutions.

Gayatri Projects is an Indian construction firm focused on public works. While it does generate some revenue from railways, which is a mass transit solution, it generates more from roadways, airports, and buildings which are not direct climate solutions.

Kernex is a software provider that makes safety software and hardware for trains. While this is important, scaling Kernex would not directly result in more climate mitigation, so we exclude them as too secondary to the main solution of expanding mass transit.

Refex Renewables is an Indian pure play provider of solar systems in India from residential to utility.

Dhanashree Electronics specializes in provider LED light applications for home, office, and industrial use, helping reduce the amount of energy needed to light a space.

Kritika Wires builds a variety of wires from steel. While some are used for electrical grid, others are clearly not, like barbed wire. They do not provide a revenue breakdown per segment, so we exclude them

Apex Frozen food is a vertically integrated shrimp aquaculture company in India. They do own farms, but it is unclear if they are taking any activities to improve the efficiency of these farms beyond industry standard, so we exclude them.

Frontline Corporation generated about 2% of their revenue from wind energy with the rest from trading of auto parts and operating gas stations, so we exclude them

TotalEnergies is a Senegalese company that offers fuel, gas, and solar lamps. We dug into them for the latter, but they generate most of their revenue from fossil fuels, so we exclude them.

Societe Tunisienne de Verreries is a Tunisian manufacturer of glass bottles. While high performance glass windows are a climate solution as they help better insulate buildings, glass bottles are not.

Multiverse Minerals is a Nigerian mining company that does extract some minerals critical for the energy transition, but generates most of its revenue from other minerals like gold.

CEC African Investment invests into many power plants in Africa. They have not updated their materials since 2021, so we cannot accurately determine their mix of zero carbon vs. fossil fuel generated electricity.

The Egyptian Company for Construction Development generates some of its revenue from building electrical transmission lines (a climate solution) but a majority from building and maintaining desalination plants, an important service, but not a climate solution

Auto Nejma Maroc is a Moroccan provider of heavy duty vehicles. They are all ICE vehicles and offer no electrified alternatives.

While Gold Fields Limited does explore for some critical minerals like copper, it generates a majority of its revenue from, well Gold, which is not a critical mineral for the energy transition.

Transcorp Power is a Nigerian electricity provider. They provide their electricity from a gas plant, so we exclude them

Sappi Limited is a South African paper and cardboard manufacturer. While they do integrate recycled pulp into their process it is less than 50%, leading to us to exclude them

Gadwa for Industrial Development is an Egyptian company owned by AMG, a Saudi Arabian Conglomerate. They report to make cables but show no information on whether they are high-voltage electrical cables for the grid or low-voltage for electronics or residential use, so we exclude them for lacking information.

Travaux Généraux de Construction de Casablanca is a Moroccan general construction company. While they have done some work on solar systems, the vast majority of their revenue comes from traditional construction activities.

While Impala Platinum does explore for some critical minerals like copper, it generates a majority of its revenue from, well Platinum, which is not a critical mineral for the energy transition.

John Holt is a Nigerian company that generates a majority of its revenue from distributing power generation systems that are almost all diesel generators. They also generate revenue from boats and firefighting equipment, neither of which are climate solutions.

One Tech Holdings is a Tunisian electronics conglomerate. While they do make some products for the electrical grid, the majority of their revenue comes from traditional electronics manufacturing like circuit boards.

While RioZim does explore for some critical minerals like copper, it generates a majority of its revenue from gold, which is not a critical mineral for the energy transition.

While African Rainbow does explore for some critical minerals like copper, it generates a majority of its revenue from gold, which is not a critical mineral for the energy transition.

KenGen is a Kenyan utility that sources 86% of its electricity from zero carbon sources like hydro, geothermal, and wind.

Aveng Limited is a South African construction firm. While they do engage in a few climate solution areas like rail and electrical grids, they generate a majority of their revenue from non-climate solution construction like buildings and roadways.

While Wesizwe Platinum does explore for some critical minerals like copper and cobalt, it generates a majority of its revenue from precious minerals like platinum and gold

While Exxaro Resources does operate two wind farms in South Africa, it generates a majority of its revenue from extracting coal.

ForRich is a Jamaican lighting and electrical services company. They provide energy efficient lighting, solar systems, and grid connection services to businesses in Jamaica, thus enabling more processes to run on electricity instead of fossil fuels

Salmones Camanchaca is a Chilean provider of farmed salmon. They track the efficiency of their fisheries to improve energy usage and reduce climate impacts, enabling them to make more protein with fewer resources.

Grupo Energia Bogota is a Columbian electrical utility that does not publish their electrical generation mix, so we exclude them

ISA Energia Brasil specializes in building high transmission power line projects that expand the electrical grid, an important-precursor to the electrification of everything

Equatorial Pará Distribuidora de Energia is a Brazilian utility that does not disclose their full electricity generation mix, so we exclude them

Wetzel is a Brazilian provider of Industrial LEDs as well as automotive parts and materials for low-voltage electrical installations. They do not disclose how much of their revenue they make from their LED business in their investor relations, so we exclude them

Conciviles is a Colombian construction company. While they do help build electrical transmission systems, an important climate solution, they generate more of their revenue from constructing roads and buildings.

Enel Generacion Piura is a Peruvian electric utility that generates most of its electricity from thermal sources, so we exclude them

Enel Generación Chile is a Chilean utility that generates almost 40% of its power from thermal sources, so we exclude them

Light is a Brazilian utility that generates all of its electricity from renewable assets

Monteiro Aranha is a Brazilian conglomerate involved in the paper, petrochemical, and real estate industries. While they do make some revenue from recycling paper, it is much less than half.

Companie de Electricidad de Tulua is a Columbian utility that generates power from multiple sources, including thermal. We could not find any publication of the exact mix of their sources however, so we exclude them

Natluk is an Ecuadorian company that provides wild and farm-raised shrimp. While more efficient fisheries are a climate solution, we could find no indication that Natluk was instituting any practices that would achieve this

COPEL is a Brazilian utility that generates 100% of its electricity from zero-carbon sources like hydro, solar, and wind

Irani is a large Brazilian paper and cardboard company. While they do seek to source their paper from sustainably managed forests, scaling paper and cardboard production will not mitigate climate change. They do generate some revenue from recycling, but it is a small amount, so we exclude them

Klabin is a large Brazilian paper and cardboard company. While we commend them for their efforts in sustainable forest management, the only climate solution they participate in directly is recycling, which makes up less than half of their revenue

Tecnoglass is a Columbian company that generates all of its revenue from providing high performance glass for buildings that enable them to keep a stable internal temperature with less energy

Rumo is a large Brazilian rail freight shipping company. They neither participate in passenger trains (mass transit) not seem to be investing in electrifying their train fleet, so we exclude them

Blumar is a Chilean provider of farm raised salmon. While making aquaculture more efficient is an important climate solution, we could not find any evidence that Blumar was investing in any activities beyond industry standard.

Ambipar is a Brazilian conglomerate that does emergency response, waste management, and risk planning. They do not generate a majority of their revenue from waste management with methane capture, so we exclude them

Titan Wind Energy is a Chinese manufacturer, installer, and developer of wind farms all around the world.

Chengxin Lithium is a Chinese company that makes a majority of its revenue from mining and refining lithium for use in batteries. It also makes some revenue from forestry projects, but it seems to be moving away from this business.

Gem is a China-based recycling company that takes used electronics and cars and extracts raw materials that can be used again in making batteries and other products, this making the economy that much more circular. In 2025 we upgraded them to a pureplay in this index.

Xinjiang Goldwind is a Chinese manufacturer of wind turbines, solar panels, and energy storage systems. Special shoutout for their aggressive plans to have a zero carbon manufacturing process.

China Tianying generates a majority of its revenue from solar and waste to energy plants, a regretful but necessary climate solution as it reduces the demand for new fossil fuels.

As of 2025, TCL makes the majority of its revenue from building solar panels and related equipment that are used in the solar industry.

Shanghai Hiuv New Materials is a Chinese producer of thin films that are primarily used for solar panels but also a variety of other applications in the Chinese market.

Shuangliang Eco-Energy Systems seems to no longer be in the business of solar panels, but focuses on machines that can use waste heat for a variety of uses, with the top one being for the petrochemical industry. We therefore exclude them from the 2025 research.

Jiangsu Cnano is a Chinese manufacturer of carbon nano-materials that are primarily used in lithium batteries as well as in paints.

Ningbo Xusheng is a Chinese company that specializes in making lightweight materials for the EV industry that help EVs move with less power needed. They also build aluminum structures for energy storage applications another key climate solution

Shenzhen Yinghe Technology makes industrial machines and processes for manufacturing both lithium ion and solid state batteries, both of which are key climate solutions.

Zhejiang Jingsheng Mechanical & Electrical Co generates a majority of its revenue from building machines that grow solar cells. They also make revenue from machines for the semiconductor industry.

As of 2025, Yunnan Energy New Materials makes a majority of its revenue from producing thin films that are used in lithium-ion batteries.

As of 2025, KBC Co generates a majority of their revenue from products for various climate solution industries like solar, hydro, and energy storage.

Beijing GeoEnviron is a Chinese waste management company. They do not disclose how much of their revenue comes from waste to energy or recycling (both of which are climate solutions). Nor how many of their landfills have methane capture equipment installed, so we exclude them for lacking information.

Sichuan Chuantou Energy is a Chinese investment company that owns stakes in multiple power plants and two technology companies. As of our 2025 review, most of their owned power plants are hydropower, but some are coal, meaning they fail our utility filter.

As of 2023, we noted that Beijing Sifang Automation makes power transmission and automation processes for a range of industries in the electricity and power space. Now in 2025 we exclude them for they still do not disclose the revenue breakdown from their businesses lines for fossil fuel power plants vs. renewables and hydro, so we exclude them for lack of information.

Chongqing Fuling generates a majority of its revenue from expanding the electrical grid in China and improving its efficiency, both of which are key in the process of switching our economy to running on electricity instead of fossil fuels.

In 2023, we noted that Shanghai Environment Group is a municipal waste company in China. As of 2025, they do not disclose how many of their landfills have methane capture on them, so we cannot see if they pass our 50% threshold.

In 2023 we noted that Luoyang Xinqianglian makes large bearings for a number of different applications: wind turbines, tunnel boring machines, and offshore cranes. As of 2025, they do not give a revenue breakdown from each segment, so we remove them for lack of information.