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Clean Edge has been at the forefront of tracking clean-tech markets since 2000. The company is a leading publisher of thematic research on clean energy, transportation, water, and the grid. It is a joint developer of and contributor to the Nasdaq Clean Edge Green Energy™ Index (CELS™), launched in partnership with Nasdaq in 2006. Other indexes include the Nasdaq OMX Clean Edge Smart Grid Infrastructure™ Index (QGRD™), the ISE Clean Edge Global Wind Energy™ Index (GWE™), and the ISE Clean Edge Water™ Index (HHO™).


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Q4 2023 Review

by Ron Pernick

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

“The future is already here – it’s just not evenly distributed,” is the oft-quoted dictum attributed to sci-fi author William Gibson. This certainly reflects the shift from fossil fuels to clean energy – where some places are far ahead of the energy transition curve. Last year, for example, Germany and Spain reached 52% and 50% of their electricity generation from renewable energy (RE) sources, respectively, a record for both. For six consecutive days in October, Portugal was fully powered by RE on its grid, and RE accounted for 61% of the country's electricity generation in 2023, up from 49% a year earlier. We see similar energy transition milestones in transportation; more than half of all passenger cars sold in countries like Norway, Iceland, and Sweden are now electric vehicles (EVs)...


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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, transportation, water, and grid infrastructure markets. All tracking financial products of Nasdaq Clean Edge indexes exceed $4 billion in assets under management (as of July 11, 2023 based on FactSet data). 

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

Q4 2023 Index Performance

Clean Edge Stock Indexes