FinancialBuzz.com News Commentary
New York, NY (7/20/2022) – Recycling and waste management play an important role in the fight against climate change. Solid waste directly contributes to greenhouse gas emissions through the generation of methane from the anaerobic decay of waste in landfills, and the emission of nitrous oxide from our solid waste combustion facilities. Both of these greenhouse gases have high global warming potential: methane has 21 times the warming potential of carbon dioxide and nitrous oxide has 310 times the warming potential. According to the Clean Development Mechanism (CDM) and Joint Implementation (JI) of the Kyoto protocol, there is a great potential for addressing methane emissions by reducing the amount of waste that ends up in a landfill. Globally nearly 70% of our solid waste is landfilled, a meagre 19% is recovered through composting or recycling, and the remaining 11% is converted to energy through incineration or other waste-to-energy technologies. E-Home Household Service Holdings Limited (NASDAQ: EJH), Waste Management, Inc. (NYSE: WM), Republic Services, Inc. (NYSE: RSG), Waste Connections, Inc. (NYSE: WCN), NextEra Energy, Inc. (NYSE: NEE)
Waste management is part of the carbon footprint management market, which was estimated at USD 9.5 Billion in the year 2022. Now, it is projected to reach a revised size of USD 12.2 Billion by 2026, while growing at a CAGR of 6% over the analysis period, according to data provided by Global Industry Analysts, Inc. Companies can reduce or offset their carbon footprints by enhancing their energy efficiency, consuming energy made from renewable origin, raise awareness, focus on environmental projects, and paying green taxes. Setting internal carbon prices or applying internal carbon taxes is an emerging trend among organizations.
E-Home Household Service Holdings Limited (NASDAQ: EJH) just announced breaking news that, “the Company has signed contract with Fujian Fusheng Property Management Co. Ltd. (“Fusheng”) to provide domestic garbage sorting and dumping services for neighborhoods under Fusheng’s management that incorporates waste collection practices to help reduce household carbon emissions.
E-Home’s garbage collection services are designed to facilitate recycling and composting, as well as incentivizing energy-from-waste facilities, which would help reduce household reliance on landfills and lower green-house-gas emissions. The Company also signed similar service contracts with Shanghai Fanying Environment Engineering Co. Ltd., Fuzhou Company (“Fanying Fuzhou”) to provide environmentally sustainable garbage sorting for three properties under Fanying Fuzhou’s management.
The contracts have been awarded following E-Home’s announcement to launch specialized waste classification, energy saving and emission reduction household Services on July 14. The initiative intends to advocate the concept that though garbage is not something we tend to actively think about on a daily basis, specifically as it relates to climate change, we have to begin developing practices to limit the environmental consequences that result from our generation of garbage.
Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: ‘We are thrilled to announce business development of our carbon neutral initiative only a week after we launched this new service, which shows our determination to help manage trash creation and contribute to recycling and composting efforts nationwide. Next, we’ll continue expand our efforts to more waste management options, including energy-from-waste facilities that provide a means for waste disposal while also generating clean electricity. We believe such alternative ‘green’ household cleaning services would both help combat climate change and achieve sustainable, strong growth for our business as a whole.’”
Waste Management, Inc. (NYSE: WM) announced on April 28th, its plan to invest $825 million in its renewable energy footprint from 2022-2025 by expanding its renewable natural gas (RNG) infrastructure. With the benefit of such investments, WM’s network of RNG plants, landfill gas-to-electricity plants and other beneficial use projects are estimated to enable the company to provide enough renewable energy to supply the equivalent of 1 million homes across North America and help WM fuel its entire natural gas fleet with RNG by 2026. WM’s accelerated RNG investment positions WM to outpace its original goal of fueling 50 percent of its natural gas fleet by 2025. “We are committed to sustainability through our actions and investments and are proud to transform yesterday’s waste to fuel our future with renewable energy,” said Tara Hemmer, chief sustainability officer, WM. “As an end-to-end vertically integrated environmental services provider, WM is uniquely positioned to expand our RNG footprint within our business. Renewable energy from WM landfill sites is an excellent source of alternative energy that beneficially uses existing landfill gas for communities. In addition, it provides an opportunity to close the loop with WM’s natural gas fleet, which is the largest fleet of its kind in North America. With this new investment, we are excited to increase projected production at WM-operated RNG facilities by approximately 600 percent in the next four years.”
Republic Services, Inc. (NYSE: RSG) reported on July 19th, it has released its 2021 Sustainability Report, which highlights the Company’s efforts supporting decarbonization and circularity and outlines continued progress toward its ambitious 2030 sustainability goals. Achievements include a 9% reduction in operational greenhouse gas emissions over the 2017 baseline year, ahead of pace to reach the Company’s interim target of a 10% reduction by 2025, and development of the nation’s first integrated plastics recycling facility. “At Republic Services, we view sustainability as more than just how we operate. We see it as a platform for growth, allowing us to innovate and invest in projects that will deliver significant environmental and economic benefits over time,” said Jon Vander Ark, president and chief executive officer. “We’ve made ambitious, industry-leading commitments across our business to reduce emissions and decarbonize our operations. Not only are we making significant progress toward these 2030 goals, but we’re helping our customers reach their own sustainability goals.”
Waste Connections, Inc. (NYSE: WCN) announced last year, the release of its 2021 Sustainability Report demonstrating progress towards all of its long-term, aspirational sustainability targets, as well as an 8% reduction in operational greenhouse gas emissions. The updated report also provides expanded disclosure illustrating the Company’s commitment to environmental stewardship, the health, welfare and development of its employees, and the support of its local communities. “We are proud of our efforts in 2020, which resulted in considerable progress towards our sustainability objectives. The strong environmental, social and governance-related foundation we have established allowed us to show year-over-year improvement in all seven of our ESG targets in 2020,” said Worthing F. Jackman, President and Chief Executive Officer. “Moreover, we are well-positioned for the achievement of our targets as we continue to invest in technologies and innovations that advance these priorities and drive value creation for our stakeholders.” The report announces the Reduction of Emissions and Improved Net Negative Carbon Footprint: Internally generated offsets from our services exceeded our Scope 1 and 2 emissions resulting in the avoidance of over 3.2 times the emissions generated from our operations in 2020, an improvement from prior year levels, primarily due to an 8% year-over-year reduction in operational greenhouse gas emissions.
NextEra Energy, Inc. (NYSE: NEE) subsidiary NextEra Energy Resources, LLC’s subsidiary NextEra Water Texas, LLC announced on July 13th, that it has completed the previously announced acquisition of a portfolio of rate-regulated water and wastewater utility assets in eight counties near Houston, Texas, from Quadvest, L.P. “This acquisition marks our first purchase of water and wastewater assets and furthers our strategy to build a world-class water utility in the coming years,” said Bruce Hauk, president of NextEra Water. “We are committed to meeting high standards for the operation of these assets and providing exceptional service to community residents and businesses.”
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