In collaboration with the German NGO Germanwatch, onValues this week published a report that assesses the observed and expected impacts of the current financial crisis on the financial industry’s efforts to integrate ESG and climate change-related issues in investment decisions. The report was distributed at this week’s Bonn climate change talks. Over the short term the authors expect set-backs in the industry’s efforts in this area. These set-backs will be particularly pronounced if the crisis persists for a longer time period, i.e. if financial markets do not stabilise by the end of 2009. The Copenhagen Climate Conference in December 2009, in combination with an ongoing financial crisis, could become the ‹make or break› tipping point for the market’s continued efforts to integrate ESG and climate issues, at least for the short- to mid-term. The mid- to long-term prospects for integration, on the other hand, are seen as positive given a series of strong underlying trends, among others the change in attitude of the US market and the increasing manifestation of the financial implications of environmental and climate change impacts.