n our last quarterly update, HSBC Climate Radar - Q2 2020: Top themes – Energy Storage & Agriculture, 26 May 2020, we highlighted the outperformance of climate stocks over traditional equities over both the long-term and short-term time periods. See (Climate and ESG: short- and long-term outperformance, 29 April 2020, for more details. The latest update of global climate stocks with relatively high climate credentials suggest that they continue to outperform global equities in 2020. As of end-July 2020, climate stocks in the HSBC Climate Solutions Database (HCSD) have posted a total return1 of 6.7%, which is significantly higher than the negative 1.6% return posted by global equities (FTSE All World index) over the same period.