Against the backdrop of the current weak macro situation, believe that responding to climate change presents long-term growth opportunities for investors in India. India has strong potential as a low carbon economy, but it is also highly vulnerable to the projected impacts of climate change. Identify an initial set of 11 climate change themes, with cINR7.6trn (cUSD150bn) expected in investment between 2008 and 2017. Of the 15 beneficiary stocks under HSBC coverage, this report profiles seven current Overweights: BHEL, L&T, ONGC, PSL, RIL, Shree Renuka and Welspun Gujarat.