In the past week, the Nordic impact stocks declined 4.1% following the U.S. election. Every sector faced difficulties. Volue was delisted following an almost 100% return year-to-date. Furthermore, Andfjord announced infrastructure development nearing completion at their land-based salmon facilities, and Capsol announced a project that can capture up to 400,000 tons a year of carbon emissions.

NORDIC | IMPACT Helps you to invest more sustainably in the businesses of tomorrow. We track the development of more than 100 Nordic impact companies within multiple impact sectors from small to large cap.

Green turned red following the U.S. election

In the past week, every impact sector was down. Following the U.S. election, the green stocks have faced uncertainty and declines. The Food & Beverage sector only declined 1% with Andfjord Salmon Group rising 17%. On the contrary, the more emerging CO2 & Carbon Capture sector declined 7% with Bergen Carbon Solutions, Enersize, and Photocat falling 10-17% each.

The average return of impact stocks in the past week was -4.1%. All sectors continue to be down year-to-date and in the last twelve months; thus, they are underperforming relative to most of the global indices which have risen. Especially the Energy Production Equipment & Services sector, with Vestas -50% this year, has faced a tough year being down 45% year-to-date. Interestingly, the Energy Production & Storage sector has performed significantly better at -14% year-to-date, although the companies in each sector have similar stakeholders.

The impact sectors the past week, year-to-date, and last twelve months

Top 10 impact stocks of the week

Pryme (21%)  is a Dutch company being listed in Norway. The company specializes in the recycling of plastic waste. The waste is mainly converted to hydrocarbons and can also be used for various industrial processes. The company owns its own production facility in Europe and was previously known as CRC Holding. Although the company performed great during the week, the stock is down 76% year-to-date.

Andfjord Salmon Group (17%) is a Norwegian company that conducts fish farming. The company has its own production facilities around the Norwegian domestic market, with the main focus on salmon farming. A large part of the business focuses on the development of new methods and production processes. Customers are mainly wholesalers as well as companies in the food industry and restaurants. In the past week, the company announced that the waterways and tunnel infrastructure to the pools at the company’s land-based facilities are nearing completion.

Windon Energy Group (16%)  is a supplier of solar cell systems and offers complete systems consisting of solar panels, inverters, and mounting systems to installers who sell the products to customers. The products are also offered to property owners, developers of solar parks, and industrial companies.

Capsol Technologies (7%) came in 5th last week. The company develops technical solutions that are used to capture carbon dioxide from power plants and industrial plants. Customers are found worldwide with the largest presence in the Nordic region and Europe. In the past week, the company’s CEO bought shares and announced a carbon capture project with Sumitomo in Västerås, Sweden. The project commences this month, where a carbon capture unit developed by Capsol can reduce emissions by up to 400,000 tons of CO2 each year at Mälarenergi’s bio-CHP plant.

The average return for the top 10 stocks in the past week was 8.7%. By far the lowest weekly return year-to-date for the best-performing stocks.

The 10 best-performing stocks in the past week

TOP 10 IMPACT STOCKS OF THE YEAR

Yesterday, Volue was delisted from the Euronext Oslo Børs after being acquired. The stock returned almost 100% before being delisted and was thus the best-performing stock of the year. Therefore, Everfuel is now the best-performing stock, but Everfuel is also about to be acquired at NOK 13 a share by Swiss Life Asset Management. Two changes were made. Andfjord Salmon and Tomra Systems moved in, while Volue and Agilyx moved out of the top 10 list.

The current average return of the top 10 stocks year-to-date is 39%. Including Volue, the return would be 45%.

The return for the top 10 impact stocks year-to-date

Waste Management

The waste management sector, characterized by its essential and non-cyclical nature, should present a stable investment opportunity with long-term potential, driven by increasing environmental awareness, regulatory demands, and the growing need for efficient waste disposal and recycling solutions. Despite this, the majority of the stocks have performed negatively this year. Agilyx and Tomra Systems have +25% returns year-to-date.

Waste Management – YTD

Energy Production & Storage

The Energy Production and Storage sector offers substantial investment opportunities, as it stands at the forefront of the transition towards renewable energy sources, driven by climate concerns and technological advancements. However, Year-to-date, only 7 stocks have delivered a positive return.

Energy Production & Storage – YTD

Energy Production Equipment & Services

The Energy Production Equipment & Services provides technical equipment and machines to other energy-producing companies such as Ørsted. The sector is to some extent influenced by oil and gas price fluctuations and industry trends. Year-to-date, BPC Instruments is by far the best performer. It is eye-catching how all stocks except one in the sector have delivered a negative return. Note that Volue has delisted.

Energy Production Equipment & Services – YTD

Power2X & Fuel Cells

The Power-to-X and Fuel Cells sector offers exciting investment opportunities in the evolving landscape of clean and sustainable energy technologies, but investors should also be mindful of the evolving regulatory and competitive landscape in this rapidly advancing field. Everfuel is the only stock with a positive impact on the sector’s performance year-to-date.

Power2X & Fuel Cells – YTD

Food & Beverages

The food and beverages sector is heavily driven by consumer demand and having strong brands is a major advantage. Investors should consider factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Year to date, 4 stocks have delivered a +30% return.

Food & Beverages – YTD

CO2 & Carbon Capture

The CO2 and Carbon Capture sector presents compelling investment opportunities for companies capturing and removing carbon dioxide from the atmosphere. It is a small sector comprising only 6 stocks, with ChromoGenics as the only stock with a positive return year-to-date.

CO2 & Carbon Capture sector YTD

Mobility

The mobility sector includes among others ride-sharing platforms and the development of electric vehicles to lower emissions and costs for consumers while increasing flexibility. Mobility is the smallest sector we track totaling 5 stocks. Donkey Republic is the best performer in 2024 and the only company in the sector with a positive return.

Mobility YTD