ESG & Investing
Goldman, JPMorgan Weigh In as ESG Funds Suffer Historic Blow
- ESG fund industry recorded its worst flows ever last quarter
- Development adds to calls for the ‘ESG’ label to be replaced
ESG funds in the US bled more than a net $5 billion in the final three months of 2023.
Photographer: VCG/Getty ImagesThis article is for subscribers only.
After the worst quarter in its roughly two-decade history, ESG’s future is once again a subject of intense debate.
Against a backdrop of attacks by the Republican Party and lackluster returns, ESG funds in the US bled more than a net $5 billion in the final three months of 2023. Combined with a huge decline in the pace of inflows in Europe, the global market for funds claiming to pursue environmental, social or governance goals suffered its first-ever net redemptions last quarter, according to Morningstar Inc.