ESG Funds Had $8.3 Billion in Russia Assets Right Before War
- Actual number may be bigger, Bloomberg data analysis finds
- Money managers are already writing down Russia bets to zero
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Fund managers touting environmental, social and governance standards held at least $8.3 billion in Russian assets right before President Vladimir Putin launched a war on Ukraine.
The figure is based on an analysis by Bloomberg of roughly 4,800 ESG funds representing more than $2.3 trillion in total assets. Of those, about 300 were directly exposed to Russia, though the figure may be higher.