Suncor Energy (TSX: SU)(NYSE: SU) Canada’s top integrated oil and gas company. It is also a company that has made great strides in cleaning up its business as a result of its large investment in clean energy. Could this be a clean energy stock in the future?
If you think it’s a big leap, you’re not alone. After all, fossil fuels and clean energy are inconsistent, right? Well, it’s not that fast. Investors will be pleased to hear that the situation is changing at Suncor. In fact, this change is widespread throughout the oil and gas sector. It’s definitely not your oil and gas sector in the past.
Suncor Energy Stock: Clean Energy Plan
Suncor’s greenhouse gas emission target is to “use technology and innovation to reduce emission intensity by 30% by 2030.” Suncor uses more cogeneration equipment, which reduces waste. We will also invest in technologies that change the way oil sands are extracted and processed. Finally, we will study carbon capture and conversion technologies.
Finally, the company’s initiatives also include investment in low-carbon forms of energy. For example, Suncor has already invested in four wind projects. We are also evaluating solar energy projects and clean hydrogen.this The energy giant is adapting to the times and transforming itself. And investors believe in that plan. Suncor Energy’s stock price is resilient.
Suncor Energy joins partnership
Earlier this spring, Canada’s largest oil sands producers gathered. They are on a mission to achieve zero net greenhouse gas emissions by 2050.This alliance is with the government Oil sands producer Suncor etc. This includes other major producers who operate approximately 90% of Canada’s oil sands production in total.
There are many ways to reach this goal. According to Suncor, carbon recovery and quarantine is 50% of the solution. But what is carbon recovery and quarantine? Simply put, it means capturing carbon before it enters the atmosphere or removing it from the atmosphere, and storing or using it. The infrastructure for this is important and built.
Ballard Power: Clean energy stock that already exists
As far as clean energy stock is concerned Ballard Power Systems (TSX: BLDP)(NASDAQ: BLDP) I’ve been in the game for a long time. It is a leading fuel cell developer and provider with inventories increased by more than 280% over the last five years. This was the time for ballad recognition and verification.
Fuel cells were just a concept when I first heard about ballad stocks many years ago. It was a time when oil and gas companies like Suncor Energy were denying climate change. Fuel cells were a groundbreaking concept, but they were still just a concept. Ballard’s goal has always been ambitious — decarbonizing the vehicle. It was a goal before I first heard about stocks. The market wasn’t ready. And most of the time, the world wasn’t ready.
Today the world is ready. The global obligation to reduce carbon emissions replaces the previous indifference. More specifically, the movement of hydrogen / fuel cells has gained momentum in the last few years. From buses to trains to ships, Ballard’s fuel cells are creating waves that wipe out transportation. Countries are participating. In fact, they are investing heavily in this initiative. Automobile companies are also investing in fuel cells. They are looking for a zero emission electric vehicle. And Ballard’s fuel cells haven’t been disappointed so far.
The clean energy revolution is approaching us. It’s finally here. Even oil and gas companies are involved in the cause. Suncor Energy is a prime example of a company that is enthusiastic about being successful and doing it right. The other end of the spectrum is the ballad power that has been working on clean energy for decades.
Both of these stocks are doing great things for the environment and shareholder notebooks. Suncor Energy’s stock price is undervalued today. Ballard’s share price has risen significantly as the fuel cell market continues to gain momentum.
This article represents the opinion of a writer who may disagree with the “official” recommendation position of the Motley Fool Premium Services or Advisors. We are Motley! Asking investment treatises, even our own treatises, can help you think critically about your investment and make decisions to be smarter, happier, and richer. As a result, we may publish articles that may not match recommendations, rankings, or other content. ..
A stupid contributor, Karen Thomas, owns a stake in Ballard Power Systems. Motley Fool does not have a position in any of the listed stocks.
Suncor Energy Stock (TSX: SU): Future clean energy stock?
https://www.fool.ca/2021/09/25/suncor-energy-stock-tsxsu-a-future-clean-energy-stock/ Suncor Energy Stock (TSX: SU): Future clean energy stock?