A list of the top 20 most read news stories and features on Environmental Finance in 2022 reveal three key themes that dominated the news agenda during the year. (See table below.)
The first theme was the furore surrounding the EU's taxonomy of sustainable activities, a key lynchpin of the bloc's sustainable finance action plan.
In 2022, the taxonomy became embroiled in politics, as it left the hands of the experts in the Platform on Sustainable Finance and was dragged through the EU's political machine. This resulted in some natural gas and nuclear being included in the taxonomy – and thereby being classified as sustainable.
Several articles in the table below reflect the rancour felt by many in the sustainable finance arena. One article described the decision as "a giant greenwash, which dwarfs 'Dieselgate' and hence may well become known as Taxonomygate".
The second big theme of 2022 was the ongoing controversy surrounding sustainability-linked bonds (SLBs). Environmental Finance wrote numerous articles over the year about some of the teething problems faced by this fledgling market, and how it can improve, some of which are reflected in the list below.
Meanwhile, there was also continued controversy over the green bond market, as reflected in the article on Hong Kong airport's bond.
The third theme was the inexorable rise of biodiversity as an investment issue. This was partly fuelled by anticipation ahead of the biodiversity COP in Montreal in December, amid hopes it would come up with an agreement equivalent to the Paris climate agreement.
Commentators later welcomed the Global Biodiversity Framework but said it was "not a Paris moment".
The ongoing work of the Taskforce on Nature-related Financial Disclosures (TNFD) also helped to fuel investor interest in the subject, even if there were criticisms of an early draft.
Another theme I would like to draw your attention to is that of transition. While it does not feature heavily in the list, apart from an exclusive story about Sustainalytics planning transition ratings, it is tipped by the team at Environmental Finance to be a top theme of 2023.
