GNE - Genesis Energy

[winner69]

They saved some carbon emissions by not mailing me an invitation to attend

Don't forget they are doing all this stuff to ensure future generations have a world to life in - even for our own children and grandchildren and their children - Manaaki whenua, manaaki tangata, haere whakamua

I see that that Equab fellow is present -- maybe he'll solve the housing crisis whiles he there.

[Beagle]

Don't forget they are doing all this stuff to ensure future generations have a world to life in - even for our own children and grandchildren and their children - Manaaki whenua, manaaki tangata, haere whakamua

I see that that Equab fellow is present -- maybe he'll solve the housing crisis whiles he there.

True...who knows, just having a massive talk fest about future ESG direction might be good for another 10% on the share price

[bull....]

Genesis Energy pledges to ditch coal and gas twice as fast

https://www.stuff.co.nz/environment/...-twice-as-fast

[Jaa]

Genesis Energy pledges to ditch coal and gas twice as fast

https://www.stuff.co.nz/environment/...-twice-as-fast

For all the unfortunate snark and dinosaur thinking above this is a very significant strategy change from one of NZ's largest emitters. They are signalling a significant increase in investment in renewable energy. Shareholders can expect an increase in capital expenditure with the payoff of a much more secure long term outlook. Now's the time to do it with interest rates so low.

If demand doesn’t rise, Genesis’ new renewable power stations would increase the country’s share of renewable power to 93 per cent, England said. Currently, around 80 per cent of our electricity each year comes from renewable stations, and more if we’ve had a lot of rain.

The new renewable power stations would provide more of the country’s day-to-day power needs – what the industry calls baseload.

“Huntly isn’t just backup power. We often kid ourselves that it is… [but] it's actually also baseload power. We have an opportunity to displace that baseload power,” England said.

[JohnnyTheHorse]

Genesis Energy pledges to ditch coal and gas twice as fast

https://www.stuff.co.nz/environment/...-twice-as-fast

Must just be trying to get included in the clean energy ETF's to take the price the $5! With where interest rates are and when compared to other Gentailers, GNE shows serious value.

https://www.nbr.co.nz/story/passive-...an-record-high

[Beagle]

The plan will double the pace of Genesis’ earlier goals – and is equivalent to removing more than 272,000 petrol cars from the road for a year.

Must admit their changes amount to a LOT of cars coming off the road. Good on them. Winner tells me I need to think of my grandkids and what world they will live in and he's right !

[iceman]

The plan will double the pace of Genesis’ earlier goals – and is equivalent to removing more than 272,000 petrol cars from the road for a year.

Must admit their changes amount to a LOT of cars coming off the road. Good on them. Winner tells me I need to think of my grandkids and what world they will live in and he's right !

I agree but I hope the people that make the loudest calls for cleaner energy are prepared to pay for the inevitable higher direct costs (cars, power, flights etc etc) in the short to medium term, potentially disadvantaging lower income people quite significantly. Like an old Boss of mine said many years ago, "it is easy to be green when you are in the black but it is hard to be green when you're in the red".
I should add that his fishing company was the first and so far only fishing company in the World to be certified as "carbon neutral" at huge upfront and ongoing cost but they also receive 10-15% higher product prices.

[Jaa]

I agree but I hope the people that make the loudest calls for cleaner energy are prepared to pay for the inevitable higher direct costs (cars, power, flights etc etc) in the short to medium term, potentially disadvantaging lower income people quite significantly. Like an old Boss of mine said many years ago, "it is easy to be green when you are in the black but it is hard to be green when you're in the red".
I should add that his fishing company was the first and so far only fishing company in the World to be certified as "carbon neutral" at huge upfront and ongoing cost but they also receive 10-15% higher product prices.

Good for your old boss. There is definitely a market premium for being green. From both consumers and investors.

What is the financial benefit of protecting and building on NZ's clean, green, safe image and reality?

Many of the costs of burning coal, oil and gas are currently socialised to the community and internationally to where these resources come from. In the case of Genesis its coal is sourced from Indonesia, with likely high hidden environmental/social costs that will borne by mostly by the poorest in the society.

Externalities like these are hard to measure, incalculable even, but they are significant.

[Jerry]

Apart from the billions sea-level rise will cost, using reticulated gas in a quake-prone country is ridiculous. Wellington is a bonfire waiting to happen. I'm pleased to see Genesis taking a positive step.
https://www.theguardian.com/australi...P3o2O9utQxDjyE

[MauroNZ]

Apart from the billions sea-level rise will cost, using reticulated gas in a quake-prone country is ridiculous. Wellington is a bonfire waiting to happen. I'm pleased to see Genesis taking a positive step.
https://www.theguardian.com/australi...P3o2O9utQxDjyE

Hi Jerry, would you please mind to elaborate the information from the link in regards of Genesis? thanks .