U.S. ESG funds see record outflows in Q1 (2024)
| Environmental, social, and corporate governance |
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In the first quarter of 2024, U.S. investors removed nearly $9 billion of net capital from funds promoting ESG investing strategies. The move marked the largest ESG outflow recorded:
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Client withdrawals from US funds targeting environmental, social and governance goals reached $8.8 billion in the first three months of 2024, according to fresh data compiled by Morningstar Inc. … It’s the latest sign that US investors are turning their backs on the investment strategy, which has been targeted by high-profile Republicans as “woke” and anti-American in its design. At the same time, many core ESG industries such as wind and solar have suffered setbacks, leading to poor returns and further alienating many investors. The scale of redemptions from US ESG funds dragged down global inflows, which were a modest $900 million in the first quarter, Morningstar said. Japan had $1.7 billion of outflows, while the rest of Asia, as well as Australia and New Zealand, saw little to no change.[1] |
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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.
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