The Globe and Mail reports in its Thursday, May 1, edition that during U.S. President Donald Trump's second term, a notable trend is the rise of renewable energy stocks. The Globe's David Berman writes that despite Mr. Trump dismissing climate change and promoting fossil fuels, renewable energy stocks have outperformed major indexes. The iShares Global Clean Energy ETF (ICLN-Q) has increased by 4.2 per cent since the start of his term, outperforming the S&P 500 by 11.5 percentage points. Interestingly, renewables have eclipsed major oil companies like Exxon Mobil and BP, which are focusing on boosting oil and gas production. If renewables are making a comeback, it remains a subtle one. Wood Mackenzie declined to comment for this story, as did Northland Power. Nor did Caisse de depot et placement du Quebec, which has invested in renewable energy assets. Mr. Berman says reticence to discuss the sector's performance under Mr. Trump's second term is understandable. When the Caisse announced a deal in February to buy Innergex Renewable Energy at a 58-per-cent premium to the stock's previous closing price, analysts said the takeover supported the belief that the stock market was undervaluing renewable energy assets.