Green Stocks Fall Even Faster
Global Warming Politics, 6 October 2008 [here]
New Energy Finance tracks companies worldwide that claim to focus on ‘climate change’ stocks involving the generation and use of cleaner energy and efficiency. It hosts the WilderHill New Energy Global Innovation Index, known as NEX.
In these dark days, the NEX is not having a happy ride, and, according to the latest report in the Scientific American ['Climate change stocks fall more than wider markets', Scientific American, October 3], “shares in companies specializing in curbing greenhouse gas emissions, including energy efficiency and renewable energy technologies, have tumbled faster than wider markets this year.” Figures for the last full quarter (June 30 to September 30) show that they fell by 30.3%, and that they are down by as much as 39% over the year so far.
The NEX is a global index of 91 companies listed on 24 stock exchanges whose, and I quote, “innovative technologies and services focus on the generation and use of cleaner energy, conservation, efficiency and the advancement of renewable energy in general” [see: 'NEX Fact Sheet']. It includes companies which claim to adopt lower-carbon approaches that “are relevant to climate change, and whose technologies help reduce emissions relative to traditional fossil fuel use.”
Ah well! The bulls and bears of the WilderHill New Energy Global Innovation Index (NEX) may be hunted down [watch out for gun-totin' Sarah Palin] through the NEX Website [here]
At 5.43 am ET today, the Index stood at 244.91, down 4.54% on the day. … [more]
Note: today (10/07/2008) NEX closed at 215.48, down 1% on the day and 46% since January 1.