瑞信-全球-基础设施行业-全球基础设施研究：可再生能源赛道和ESG活动-2020.3.12-53页.pdf

12 March 2020 Equity Research Americas | Canada Global Infrastructure Research The Renewables Runway and ESG Activity Infrastructure | Connections Series Ample Opportunity : With the hydrocarbon commodity volatility in the broad market, we Research Analysts re-visit renewable power generators which also follows the work from our ESG Team (What the ESG Investor Buys). Specifically, we provide commentary regarding the opportunity Andrew M. Kuske facing the renewable power sector and valuation views from our Global Infrastructure Team. 416 352 4561 Clearly, there is a large scale opportunity for capital flows into renewable power in virtually andrew.kuske@ every jurisdiction in around the globe over an extended duration. The Global Infrastructure Stefano Bezzato Team does not debate that reality; however, stock selectivity is key in the current 44 20 7883 8062 environment. The market downdraft more appropriately priced a number of stocks; however, stefano.bezzato@ Figure 1 shows the performance of a number of renewable power indices over the last two Carolina Carneiro years versus MSCI All World. 55 11 3701 6308 carolina.carneiro@ Figure 1: Renewable Power Indices Performance vs. MSCI All World Index – 2 years Mark Freshney