Global Private Banking Investment Outlook Report Investing for a Sustainable Future The 27th Conference of the Parties Projected annual investment in energy storage of the United Nations Framework Convention on Climate Change 70 APAC EMEA Americas Rest o or (or COP 27 for short) had a raised urgency compared to other years 60 and the acceptance and activity on 50 sustainability issues is markedly higher than it has ever been. There 40 is a broad spectrum of crises facing life on earth, the majority of which USD bn30 are a result of human activity and it is now widely accepted 20 that we need to move quickly to limit the impact of our historic 10 mistakes. The good news is that 0 we have everything we need to 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 get to where we need to be in 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 terms of sustainability: we have Source: Bloomberg Finance L.P. HSBC Global Private Banking, 22 November 2022. the understanding, the technology, the capital and increasingly the desire. As a result, for investors, the Annual Renewable Energy Capacity Pipeline opportunity set is getting deeper 450 and broader every day and we have identified 4 themes within the 400 sustainability trend that we believe 350 represent excellent opportunities 300 going forward. 250 200 Our four high conviction themes USD bn150 1. Energy Transition and Independence 100 2. Financing Biodiversity Action 50 3. Sourcing Income in a 0 Sustainable Way 2004 2006 2008 2010 2012 2014 2016 2018 2020 Q3 2022 4. The Rise of S in ESG 2005 2007 2009 2011 2013 2015 2017 2019 2021 Source: Bloomberg New Energy Finance (BNEF), HSBC Global Research, HSBC Global Private Banking as at 22 November 2022 22