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Clean Edge, Inc. is a developer and publisher of thematic stock indexes tracking clean energy, transportation, water, and the grid. The firm’s first index, the Nasdaq Clean Edge Green Energy Index (CELS), was launched with Nasdaq in 2006. Financial products tracking the firm’s indexes and universes exceed $4 billion in assets under management (as of March 2022).


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Q1 2022 Review

by Ron Pernick

Quarterly overview of stock index performance and the top trends impacting the state of clean tech.

The major news in the first quarter of 2022 was Russia’s unprovoked and vicious attack on the sovereign nation of Ukraine – making Vladimir Putin a global pariah (if he wasn’t already) and comedian turned-president Volodymyr Zelensky an accidental hero for inspiring and galvanizing the courage and strength of millions. The brutal and unsettling attack has also laid bare Europe’s reliance on Russian coal, oil, and natural gas, and has many nations scrambling to put an end to their dependency on volatile fossil fuels and Putin’s petrostate dictatorship once and for all. While the markets continued to reward fossil fuels in Q1 (high prices and post-pandemic demand both fueled record profits for oil companies), there’s a growing and palpable sense that Putin’s War...


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Published by NASDAQ in collaboration with Clean Edge, Enabling the Energy Transition takes a look at corporate, investor, and government net-zero and clean-energy initiatives that are driving a new era in the energy transition.

Stock Indexes

Nasdaq-Clean Edge stock indexes cover U.S. and global clean energy, water, and grid infrastructure markets. As of March 2022, First Trust ETFs tracking the indexes equaled more than $4 billion in AUM. 

  • CELS: U.S. clean energy 
  • GWE: Global wind  
  • HHO: U.S. potable water and wastewater 
  • QGRD: Global smart grid and grid infrastructure 

Q1 2022 Index Performance

Clean Edge Stock Indexes