The value of a business is the amount of money it will create for its owners over its lifetime, but working out what that figure is beforehand is complicated.
Market sentiment has soured on environmental stocks and this is creating new opportunities to get exposure to parts of the economy expected to grow fast as the energy transition progresses.
Even with sentiment towards renewable-energy companies at an all-time low, decarbonisation remains the biggest structural-growth opportunity in a generation.
Novozymes manufactures enzymes for a wide range of commercial applications, with one thing in common: they all contribute to decarbonisation, by improving yields, increasing energy efficiency or reducing...