WEBVTT
Kind: captions
Language: en

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Many technologies in the clean tech sector are growing
at an above-average rate.

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Solar, wind, and electric mobility

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have shown above-average growth rates for years.

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Currently, we are seeing very high growth rates
in stationary batteries.

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For investors, however, it is important
not to focus solely on growth rates,

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but on profitable growth.

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For this, it is necessary
that companies achieve high returns on capital,

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or more specifically, that the returns on capital

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exceed the cost of capital.

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With our climate strategy,
we have exactly this focus:

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high returns on capital
in the energy transition sector.

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And with this approach, we have

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outperformed the MSCI World
over the past ten years

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since the Paris Climate Agreement,

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even though we did not invest in the Mag7,

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such as Microsoft, Google, or Amazon.