Q4 saw financial markets continue to be driven by a focus on inflation, the central banks interest rates policy and its ultimate impact on corporate earnings. Global stocks and bonds posted positive quarterly returns for the first time in 2022. Market strength eased in mid-December on the economic outlook for 2023 and milder weather at the end of December caused a sharp fall in natural gas prices.

There were two Conventions of the Parties (COPs): the first in Egypt (COP27), focusing on the need to accelerate the low carbon transition, and the second in Montreal, finalising COP15 and the march towards a global biodiversity framework which had been disrupted due to Covid. The Financial Conduct Authority (FCA) also released its long-awaited consultation on the Sustainability Disclosure Requirements (SDR) aimed at clamping down on greenwashing.

Our CIOs discuss the big developments in investment and impact that closed out 2022.

CIO conversations Q4 2022