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Almost $27 billion pulled from US sustainable funds in 2024
The Straits Times
|January 18, 2025
US fund managers trying to sell environmental, social and governance (ESG) strategies just had their worst year ever.
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NEW YORK -
According to data provided by Morningstar, US sustainable funds suffered almost US$20 billion (S$27 billion) of net redemptions in 2024, up from roughly US$13 billion in 2023. Funds had seen inflows in previous years, the market researcher's data showed.
It is the latest sign that ESG metrics are under siege in the world's largest economy. The Morningstar data comes as Wall Street firms from JPMorgan Chase & Co to BlackRock all back away from major climate finance organisations that just a few years ago were popular among bankers and investors.
The year 2024 marked a "turbulent" period for ESG, Ms Hortense Bioy, head of sustainable investing research at Morningstar Sustainalytics, said in the report.
Dit verhaal komt uit de January 18, 2025-editie van The Straits Times.
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