Pledging to go green doesn't just help corporate brands. It boosts stocks

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The average 12-month forward price-to-earnings ratio for companies that have a set timeline for achieving carbon neutrality is 32.4. But that closely-watched valuation metric plummets to 20.3 for companies with no emissions targets.

Alaska Airlines and US Steel join the net zero parade

Even the oil industry is on board, with European leaders BP, Total and Royal Dutch Shell announcing net zero targets last year as they embrace a shift to cleaner energy. "If companies' quality of management is high, they understand this is real and these regulations are coming," said Nicholas Colas, co-founder of DataTrek Research."Good management gets ahead of the curve."

Tesla is now one of the world's most valuable companies and solar stocks have skyrocketed, while oil-and-gas firms have badly lagged behind. Last year, ExxonMobil was briefly dethroned as America's most valuable energy company by wind and solar giant NextEra Energy.

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