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3 Waste Removal Stocks in Focus on World Environment Day 2023
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The theme for this year’s World Environment Day, which falls on Jun 5, is Solution to Plastic Pollution. This year’s event is being held in Côte d'Ivoire in partnership with the Netherlands. The basic objective of celebrating this day is to focus on environmental issues and try to find a solution to them. Last year’s World Environment Day’s focus was on Living Sustainably in Harmony with Nature.
Rapid industrialization and the ease of use and comparatively lower cost of plastic resulted in a massive rise in global production of single-use plastic, which is quite harmful for the environment. Per the United Nations Environment Programme (UNEP), only 10% of the seven billion tonnes of plastic waste generated globally has been recycled. A huge volume of plastic along with plastic waste is added to the environment each day, which is polluting our surroundings.
Given the above scenario, the role of waste management stocks becomes crucial in lowering plastic pollution, waste management and creating new solutions for recycling plastic waste. According to Statista, the global waste and recycling services market, which was worth nearly $60 billion in 2022, will touch $88 billion in 2030.
Creating global awareness and taking corrective measure have become essential to reducing the threat to the environment from plastic waste. Per UNEP, despite current efforts, 75 to 199 million tonnes of plastic are still in oceans. Proper action globally is essential to controlling the production, usage, disposal and recycling of plastics. Unless corrective measures are taken, UNEP expects the amount of plastic waste entering aquatic ecosystems to touch 23-37 million tonnes per year by 2040.
The companies belonging to the Zacks Waste Removal Service industry can play a major role in lowering pollution, taking appropriate measures for the proper disposal of plastic waste and actively supporting the UN’s goal of restoring the ecosystem.
Price Performance (Three Months)
Image Source: Zacks Investment Research
Waste Management (WM - Free Report) , a Zacks Rank #3 (Hold) stock, has been providing comprehensive waste management services in North America. The company provides collection, transfer, recycling and resource recovery, as well as disposal services to residential, commercial, industrial and municipal customers. The Zacks Consensus Estimate for 2023 earnings of $6.03 implies a year-over-year increase of 7.9%. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clean Harbors, Inc. (CLH - Free Report) , also a Zacks Rank #3 stock, provides a broad range of services such as end-to-end hazardous waste management, emergency response, industrial cleaning and maintenance, and recycling services. The Zacks Consensus Estimate for 2023 earnings of $6.96 indicates an increase of 17.5% in the past 60 days.
Republic Services (RSG - Free Report) , a Zacks Rank #3 stock, is a leading provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services. The company developed its first Polymer Center last year to increase the recycling of plastics across North America. The Zacks Consensus Estimate for 2023 earnings of $5.23 suggests a year-over-year increase of 6.1%.
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3 Waste Removal Stocks in Focus on World Environment Day 2023
The theme for this year’s World Environment Day, which falls on Jun 5, is Solution to Plastic Pollution. This year’s event is being held in Côte d'Ivoire in partnership with the Netherlands. The basic objective of celebrating this day is to focus on environmental issues and try to find a solution to them. Last year’s World Environment Day’s focus was on Living Sustainably in Harmony with Nature.
Rapid industrialization and the ease of use and comparatively lower cost of plastic resulted in a massive rise in global production of single-use plastic, which is quite harmful for the environment. Per the United Nations Environment Programme (UNEP), only 10% of the seven billion tonnes of plastic waste generated globally has been recycled. A huge volume of plastic along with plastic waste is added to the environment each day, which is polluting our surroundings.
Given the above scenario, the role of waste management stocks becomes crucial in lowering plastic pollution, waste management and creating new solutions for recycling plastic waste. According to Statista, the global waste and recycling services market, which was worth nearly $60 billion in 2022, will touch $88 billion in 2030.
Creating global awareness and taking corrective measure have become essential to reducing the threat to the environment from plastic waste. Per UNEP, despite current efforts, 75 to 199 million tonnes of plastic are still in oceans. Proper action globally is essential to controlling the production, usage, disposal and recycling of plastics. Unless corrective measures are taken, UNEP expects the amount of plastic waste entering aquatic ecosystems to touch 23-37 million tonnes per year by 2040.
The companies belonging to the Zacks Waste Removal Service industry can play a major role in lowering pollution, taking appropriate measures for the proper disposal of plastic waste and actively supporting the UN’s goal of restoring the ecosystem.
Price Performance (Three Months)
Image Source: Zacks Investment Research
Waste Management (WM - Free Report) , a Zacks Rank #3 (Hold) stock, has been providing comprehensive waste management services in North America. The company provides collection, transfer, recycling and resource recovery, as well as disposal services to residential, commercial, industrial and municipal customers. The Zacks Consensus Estimate for 2023 earnings of $6.03 implies a year-over-year increase of 7.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clean Harbors, Inc. (CLH - Free Report) , also a Zacks Rank #3 stock, provides a broad range of services such as end-to-end hazardous waste management, emergency response, industrial cleaning and maintenance, and recycling services. The Zacks Consensus Estimate for 2023 earnings of $6.96 indicates an increase of 17.5% in the past 60 days.
Republic Services (RSG - Free Report) , a Zacks Rank #3 stock, is a leading provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services. The company developed its first Polymer Center last year to increase the recycling of plastics across North America. The Zacks Consensus Estimate for 2023 earnings of $5.23 suggests a year-over-year increase of 6.1%.