Bank of America unveils the 5 stocks set to soar by at least 20% when they're included in ESG indices, as ETFs super-charge the sector Summary List Placement Green energy stocks are soaring, as investors get bullish on the global push into renewable sources of power and the shift away from more polluting fossil fuels and Europe is very much at the forefront of this revolution. In January alone, Madrid-based renewable energy company EDP Renováveis (EDPR) gained around 50%, exceeding the market cap of its $24 bln parent company EDP. Of course, gains are to be expected as "green investing" becomes increasingly mainstream. But, one of the core drivers of this success has been the cash inflows from exchange-traded funds, according to research by Bank of America. The bank identified 123 clean energy|ESG ETFs globally that hold around €2.9bn-worth of shares in its European utilities and renewables coverage universe. With the SP Clean Energy Index set to include 5 new stocks, BofA are bullish on five non-pure-play companies that could be candidates for inclusion, giving them access to ETF cash, which in turn might lead to large gains in their share prices. "Surges in ETF flows have repeatedly coincided with material share price moves, especially around index entries and rebalances," the bank said in a note published Wednesday.