Reasons for hope?
On the face of it, there's plenty to be pessimistic about in the environmental markets at the moment.
Stranded assets alert
Nicholas Stern has warned that many oil and gas and mining companies may be overvalued, in a 'bubble' that would threaten the security of global financial markets. Peter Cripps and Katie Kouchakji report
Energy efficiency stocks outperform in HSBC index
Energy efficiency stocks have led the way in the HSBC's Climate Change Index in the first half of this year, driven by companies in North America – a trend the bank expects to continue.
Green bond issuance up by a quarter - report
The value of green bonds issued rose 25% in 2012 compared with the previous year, according to a report that expects the market to continue scaling up.
Cheuvreux retains sustainability title in Extel survey
Kepler Cheuvreux has been voted best pan-European brokerage firm for sustainability research in the annual Thomson Reuters Extel survey.
IEA adds to warnings on 'stranded' energy assets
The International Energy Agency has added its voice to warnings that action to combat climate change threatens to leave energy companies with 'stranded assets'.
'Carbon risk to return' in 2013 – HSBC
There will be a "modest return" of carbon risk in 2013 as concerns grow over the mismatch between climate policy goals and market realities, and as fears build over the long-term risks around fossil fuel assets, according to HSBC.
California carbon market to raise $608 million in 2013 - HSBC
California's fledgling carbon market will raise more than $600 million through the sale of allowances this year, HSBC has calculated.
Obama win boosts EPA climate effort, spurs carbon tax talk
The re-election of US President Barack Obama means that the Environmental Protection Agency's (EPA) climate rules are virtually safe from attempts to dismantle them, while discussions of a federal carbon tax could gain traction.
HSBC lays out goals for Doha climate talks
The UN climate talks in Doha next month must finalise a second Kyoto Protocol commitment period, provide clarity on climate finance flows from 2013 and agree the roadmap towards a 2015 international deal, according to analysts at HSBC's climate change centre.