J.P. Morgan announces plans to close two ESG funds (2023)
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
J.P. Morgan announced last week that it will close two ESG funds at the end of the year amid general outflows from ESG financial products:
| “ |
An unprecedented $7.7 billion has left do-good ETFs this year following ten straight years of inflows, Bloomberg Intelligence data show. Issuers have shut down a record 14 ESG funds so far in 2023 amid the outflows, with the JPMorgan Sustainable Consumption ETF (ticker CIRC) and JPMorgan Social Advancement ETF (UPWD) set to be liquidated by year-end, according to a press release Thursday. The conversation around principles-based investing is increasingly intertwined with politics. After positioning his firm as a leader in the space, BlackRock Inc. Chief Executive Officer Larry Fink famously said this year that he’s retiring what has become a “weaponized” label after facing outcry from Republican politicians who pulled billions in state funds from his company.[1] |
” |
See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
| |||||||||||||||||||||||
