Ten global stocks that can help solve the $150-trillion climate crisis
These stocks offer a chance to participate in the once-in-a-lifetime climate financing opportunity
Author: Financial Post Staff
• Publishing date: Nov 03, 2021 • November 3, 2021 • 4 minute read
The world needs to invest US$150 trillion over the next 30 years — twice the world’s current GDP — to help rein in carbon emissions and switch to more sustainable energy sources, according to Bank of America.
It seems like a monumental figure, but it can be done, if technology, economy, markets and ESG join forces, the Wall Street bank said in a recent report.
“Exponential cost reductions in wind, solar and batteries technologies have made renewables the cheapest form of energy in areas producing 90 per cent of global electricity. Market appetite is chipping in too,” the bank noted, adding that green bonds and loans have exceeded US$3 trillion this year, with US$3 in every US$10 of flows into global equities going into environmental, social and governance and sustainable investments.
The bank identified 26 global stocks that can help investors ride the once-in-a-lifetime climate financing opportunity.
Not a single Canadian company made the list, but to solve a global crisis, Canadian investors may have to cast their net wider to tap into the climate change windfall.
Here are 10 of the 26 stocks that are expected to generate most bang for investors’ bucks — and help save the environment, BoA noted.