ICLN: Last Chance to Invest in Renewable Energy Before Tax Credits Expire

The iShares Global Clean Energy ETF (ICLN) is set to benefit from growth in renewable energy before tax credits expire. Despite the impending phase-out of tax credits, I believe clean energy may have one last surge in growth. The ETF is designed to provide investors with exposure to producers of clean energy, making it a potential investment opportunity for those looking to tap into the renewable energy sector.

Title: Teck Resources: Pioneering Clean Energy Transition through Copper Expansion

Teck Resources (TSE: TECK.B) is emerging as a pivotal player in the global transition to clean energy by pivoting its focus from coal to copper. This strategic shift aligns with the increasing demand for critical minerals, particularly copper, which is essential for renewable energy technologies like electric vehicles, wind turbines, and solar panels [1].

In 2024, Teck Resources divested its coal assets for $8.6 billion, using the proceeds to fund growth in copper projects and reduce debt [2]. This move reoriented the company's portfolio towards energy transition metals, with copper production expected to account for two-thirds of total revenue in 2025 [3]. Key projects such as the Highland Valley Copper Mine Life Extension (HVC MLE) and Quebrada Blanca 2 (QB2) underscore Teck’s commitment to long-term copper supply. The HVC MLE, a $2.1–$2.4 billion investment, will extend the mine’s life to 2046 and add 132,000 tonnes of annual copper production [4]. Meanwhile, QB2 has contributed to a 19% year-over-year production increase in Q4 2024 and is projected to drive further throughput improvements in 2025 [5].

Teck’s sustainability goals are not just aspirational but operationalized through measurable targets. The company aims to achieve net-zero Scope 2 emissions by 2025, with 79% of its operational power already sourced from renewables [7]. A partnership with AES Corporation to power QB2 with 100% renewables further reduces carbon intensity [8]. Additionally, Teck’s solar power project at the Schaft Creek development, in collaboration with the Tahltan Nation Development Corporation (TNDC) and Solvest, cuts diesel dependency by 70% for camp power [9]. These initiatives align with broader ambitions to reduce carbon intensity by 33% by 2030 and achieve net-zero Scope 1 and 2 emissions by 2050 [10].

Despite a 40.51% decline in revenue from $13.319 billion in 2022 to $6.616 billion in 2024, Teck’s robust balance sheet provides a buffer. As of Q2 2025, the company held $8.9 billion in liquidity, including $4.8 billion in cash [15]. Shareholder returns remain a priority, with $1.0 billion returned through buybacks in 2025 [16]. Analysts remain optimistic, with a median price target of $53.04 and a “buy” consensus rating [17].

Teck’s strategic clarity and operational discipline set it apart in the energy transition mining sector. While peers like BHP and Rio Tinto have diversified into lithium and rare earths, Teck has focused on copper, where it holds a cost advantage. Its $10 billion liquidity position and disciplined capital allocation strategy enable it to fund growth without overleveraging [19]. The company’s target of 800,000 tonnes of annual copper production by 2030 positions it to meet surging demand, with copper prices currently trading near $4.80 per pound (up 18% YoY) [20].

However, Teck faces headwinds. Operational challenges at QB2, including a shiploader outage and tailings management delays, have forced production guidance revisions [21]. Additionally, its lack of diversification into other energy transition metals like lithium could limit upside potential if demand for these materials accelerates [22]. That said, Teck’s focus on copper—a metal with a clearer and more immediate demand trajectory—mitigates this risk.

In conclusion, Teck Resources’ alignment with the clean energy transition, coupled with its financial resilience and operational expertise, makes it a compelling long-term investment. While short-term volatility and operational challenges persist, the company’s strategic investments in copper production, renewable energy integration, and decarbonization initiatives position it to benefit from structural demand trends. For investors seeking exposure to the energy transition, Teck offers a balanced blend of growth potential and ESG-driven innovation.

References:
[1] International Copper Association, [https://internationalcopper.org/resource/teck-recognizes-the-sustainable-power-of-copper/](https://internationalcopper.org/resource/teck-recognizes-the-sustainable-power-of-copper/)
[2] Reuters, [https://www.reuters.com/markets/commodities/canadas-teck-resources-approves-highland-valley-copper-mine-life-extension-2025-07-24/](https://www.reuters.com/markets/commodities/canadas-teck-resources-approves-highland-valley-copper-mine-life-extension-2025-07-24/)
[3] AInvest, [https://www.ainvest.com/news/teck-resources-strategic-buy-energy-transition-era-2507/](https://www.ainvest.com/news/teck-resources-strategic-buy-energy-transition-era-2507/)
[4] Teck Resources, [https://www.teck.com/news/stories/2025/](https://www.teck.com/news/stories/2025/)
[5] AInvest, [https://www.ainvest.com/news/teck-resources-mixed-q2-2025-earnings-strategic-shift-energy-transition-metals-deep-dive-2507/](https://www.ainvest.com/news/teck-resources-mixed-q2-2025-earnings-strategic-shift-energy-transition-metals-deep-dive-2507/)
[6] Discovery Alert, [https://discoveryalert.com.au/news/teck-resources-unveils-3-9-billion-strategy-to-expand-copper-production-for-energy-transition/](https://discoveryalert.com.au/news/teck-resources-unveils-3-9-billion-strategy-to-expand-copper-production-for-energy-transition/)
[7] Teck Resources, [https://www.teck.com/sustainability/sustainability-topics/climate-change/decarbonization/](https://www.teck.com/sustainability/sustainability-topics/climate-change/decarbonization/)
[8] AInvest, [https://www.ainvest.com/news/teck-resources-navigating-chilean-challenges-secure-copper-energy-transition-role-2509-28/](https://www.ainvest.com/news/teck-resources-navigating-chilean-challenges-secure-copper-energy-transition-role-2509-28/)
[9] Teck Resources, [https://www.teck.com/news/stories/2025/](https://www.teck.com/news/stories/2025/)
[10] Smart Energy Decisions, [https://www.smartenergydecisions.com/news/teck-expands-net-zero-goals/](https://www.smartenergydecisions.com/news/teck-expands-net-zero-goals/)
[11] Teck Resources, [https://www.teck.com/sustainability/approach-to-responsibility/sustainability-approach-and-goals/](https://www.teck.com/sustainability/approach-to-responsibility/sustainability-approach-and-goals/)
[12] Macrotrends, [https://www.macrotrends.net/stocks/charts/TECK/teck-resources/revenue](https://www.macrotrends.net/stocks/charts/TECK/teck-resources/revenue)
[13] Macrotrends, [https://www.macrotrends.net/stocks/charts/TECK/teck-resources/net-income](https://www.macrotrends.net/stocks/charts/TECK/teck-resources/net-income)
[14] Finbox, [https://finbox.com/NYSE:TECK/explorer/ebitda/](https://finbox.com/NYSE:TECK/explorer/ebitda/)
[15] Teck Resources, [https://www.teck.com/news/news-releases/2025/teck-reports-unaudited-second-quarter-results-for-2025](https://www.teck.com/news/news-releases/2025/teck-reports-unaudited-second-quarter-results-for-2025)
[16] AInvest, [https://www.ainvest.com/news/teck-resources-q2-2025-performance-hvc-mle-approval-strategic-growth-shareholder-creation-volatile-commodity-market-2507](https://www.ainvest.com/news/teck-resources-q2-2025-performance-hvc-mle-approval-strategic-growth-shareholder-creation-volatile-commodity-market-2507)
[17] Markets Insider, [https://markets.businessinsider.com/stocks/teck-stock](https://markets.businessinsider.com/stocks/teck-stock)
[18] Macrotrends, [https://www.macrotrends.net/stocks/charts/TECK/teck-resources