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Why Green Stocks Are Slumping During an ESG Boom

Despite long-term growth prospects, there seems to be less enthusiasm for the sector, according to analysts.

The S&P Global Clean Energy Index, which includes Sunrun Inc., the largest U.S. residential-solar company, has declined 27% so far in 2021. Above, contractors install SunRun panels on the roof of a new home in Sacramento, California, in 2018. 

The S&P Global Clean Energy Index, which includes Sunrun Inc., the largest U.S. residential-solar company, has declined 27% so far in 2021. Above, contractors install SunRun panels on the roof of a new home in Sacramento, California, in 2018. 

Photographer: David Paul Morris/Bloomberg

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Despite a drop in clean-energy stocks and intensifying concerns about widespread greenwashing, the market for investment products sold as being ESG-related had another record year by most yardsticks.