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

2022 was a volatile and difficult year, punctuated by high commodity prices, massive supply disruptions, and continued lockdowns in China. But the coup de grace, as governments, companies, and individuals worked to recover from the Covid-19 pandemic, was Russia’s invasion of Ukraine. This destructive and unjustified act left the European continent and world on edge and roiled oil, gas, and food markets from London to Lagos. It was a trying year by all accounts. 

From an energy perspective, an overarching question is whether Russia’s war on Ukraine will speed or slow the energy transition. In the short term, the fossil fuel sector saw a surge in demand, and a significant increase in commodity and end-product pricing, as European countries scrambled to find alternatives to Russian natural gas...