How do NZX energy stocks help reduce emissions?

Recently, the New Zealand Government has publicly unveiled its first emission reduction plan in line with its commitment to be carbon neutral by 2050.

New Zealand’s Minister for Climate Change, James Shaw, said that the plan would help the country’s transportation, energy, agriculture, etc. announced that it will help reduce greenhouse gases in various sectors such as

Therefore, the Government plans to put forward a wide range of ideas that will enable carbon reduction and help create more employment opportunities.

For this, it invites various businesses, unions, Moari and local communities to propose new measures by 24 November.

With this overview, let’s quickly get to know five popular NZ energy stocks that will pave the way for the country’s reduced emissions.

NZX energy stocks-MEL, CEN, NZO, TPW, ZEL

Image source: © 2021 Kalkine Media New Zealand Ltd, data source – Refinitiv

Meridian Energy Limited (NZX: MEL)

Based in Wellington, the leading electricity producer across Kiwiland is Meridian Energy Limited. The company recently announced that it has granted equity stakes to several selected Meridian employees in relation to the Executive LTI Program.

The granting of such rights will likely take place on October 21.

On October 15, Meridian Energy fell 0.71% to NZ$4,865 at the time of writing.

Related Reading: Are these the 5 most active stocks in NZX?

Contact Energy Limited (NZX: CEN)

Contact Energy Limited was named the country’s most reliable energy provider this year by Reader’s Digest. CEN has scheduled its 2021 Annual Shareholder Meeting for November 10.

Interesting Read: Is Contact Energy (NZX:CEN) government owned? Is it based in NZ?

It was noted that the said meeting will be held over the internet and it is aimed to take very few decisions such as the election and re-election of the board of directors.

Shares of Contact Energy were down 0.97% at NZ$8,130 at the time of writing on October 15.

New Zealand Oil and Gas Limited Company (NZX: NZO)

New Zealand Oil & Gas Limited is an oil exploration and production company. Today, the Company announced that it has successfully completed the Coupe Compression Project.

This input compression project is now fully operational.

At the time of this writing, New Zealand Oil & Gas was up 1.92% at NZ$0.530 on Oct.

Related Reading: New Zealand Oil & Gas (NZX:NZO): All about the latest acquisition

Trustpower Limited (NZX: TPW)

Trustpower Limited, operating as the nation’s leading gas, electricity and internet company. The Company has informed all its stakeholders of the permission granted by the Trade Commission to Mercury NZ Limited to purchase TPW’s business.

Must Read: Are these 5 NZX mid-caps aiming to be large-cap stocks?

Besides the approval of the Commission, obtaining the consent of the shareholders by Trustpower was one of the other terms of sale approved in the Company’s ASM.

On October 15, Trustpower shares gained 0.55% at NZ$7,260 at the time of writing.

Z Energy Limited (NZX: ZEL)

Operating as a Kiwi transport fuel company, Z Energy Limited is headquartered in Wellington. The company announced today that David (Dave) Binnie, Managing Director of Supply, is leaving.

He would leave ZEL in Q4 of FY22.

Meanwhile, the Company is likely to announce the replacement before the end of the year.

Z Energy was trading sideways at NZ$3,630 on October 15 at the time of writing.

Related Reading: Has Z Energy (NZX:ZEL) accepted Ampol’s takeover agreement?

As a result

Energy stocks are the largest contributor to the country’s emissions; their support is therefore vital to the country’s commitment to a cleaner and greener future.

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