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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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Q2 2022 Review

by Ron Pernick

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

Russia’s attack on Ukraine continued to roil global energy and food markets during the second quarter of 2022. Indeed, we saw two very different versions of the future emerging in the West: the super-charged adoption of renewables, electrification, and storage vs. securing as much non-Russian gas as possible with the buildout of new gas storage and LNG infrastructure. As we write this commentary, the EU just made the decision to include some natural gas and nuclear as “green” options in their EU taxonomy framework (we expect legal challenges to this European Parliament vote). The move is clearly out of step with climate science as well as public and investor sentiment, and it is sure to complicate concerns over greenwashing. Clean Edge does not consider natural gas a green energy option...


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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 

Q2 2022 Index Performance

Clean Edge Stock Indexes