This week our Safeguard ESG Impact platform has Clean Technology garnering the second highest news mentions in the past month with Energy and Utilities making up 47% of that event type. A deeper look at the sector shows that EnelSpa (ENEL:IT), Duke Energy (DUK:US), and surprisingly Chevron (CVX), hold the top spots for ESG impact score.

Sam Leavitt
January 22, 2021

ESG Spotlight: A Clean Tech Start to the New Year

ESG Spotlight: A Clean Tech Start to the New Year

When exploring trends on the Safeguard ESG Impact platform we look for significant indicators such as highest impact scores, or most mentions of event types or sectors. By reviewing the high mentions of Clean Technology we were able to discern that it was driven by mainly the Energy and Utilities sectors. 

Our earlier August piece featured two companies that made progress on their Clean Technology goals in under a six month period: Duke Energy and Xcel Energy. Duke Energy acquired a 144 MW solar field in Texas to add to their clean energy portfolio. The Pflugerville Solar array, recently added from a subsidiary of Canadian Solar (CSIQ) is in the final stages of construction. It will provide energy for the Austin area and is set to be operational by mid 2021.

Safeguard ESG Impact Platform: Top Energy and Utilities Mentions, Past Month

Xcel Energy has made a stride in its electrification plan. The Midwest utility recently received approval for a $110 million electrification project to provide up to 20,000 charging stations for the state of Colorado. Colorado has a goal of having nearly a million electric vehicles on the road by 2030 and is even offering rebates on purchases of electric vehicles. Xcel Energy has their foot in the door and will be a major contributor in this undertaking.

Chevron Enters the Ring

Additional efforts in the Clean Technology space also include some unfamiliar names. A long-time oil giant, Chevron, recently made headlines in this space. Chevron has invested in Blue Planet, a carbon capture startup based in San Jose. 

A recent article by Harvard Business Review on the financial returns of sustainability cites a case study directly related to utilities and divestment from coal. In the case study there is an example of a Canadian utility that divested from coal receiving a higher target stock price from an equities analyst as a result of their decision. This study highlights that long-term diversification of energy assets not only secures future revenues, but also generates intangible goodwill in the market that can increase brand value.

Clean Technology's Busy Start in 2021

In the past month the Clean Technology category made up a sizable portion of news mentions, ranking second on the Amenity Safeguard platform. Driven largely by Energy and Utilities, many headlines covered large scale developments. Newer names like Chevron received mentions in this space as well as companies with older commitments like Duke and Xcel. With a clean energy friendly Biden administration taking office this week, as well as falling costs in wind and solar, the Clean Technology category is poised for continued focus in 2021.

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About Amenity

Amenity Analytics is the industry leader in providing insights from unstructured text by using Natural Language Processing (NLP) assisted by Artificial Intelligence (AI) and Machine Learning (ML). Amenity’s NLP system is a sector-agnostic, language-dependent tool for quantitative text analysis that is deployed across the financial services industry and beyond.

This communication does not represent investment advice. Transcript text provided by FACTSET and S&P Global Market Intelligence.

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