US investors pull billions out of sustainable funds amid ESG backlash
2023 was a tough year for sustainable funds, with lower rates of return and increased scrutiny around ESG labels.
Investors in the US pulled a total of US$13 billion out of sustainable funds in 2023, making this the worst year on record for ESG investments in the country.
2023 was a tough year for sustainable funds, as lower rates of return and increased scrutiny around ESG fund labels prompted many investors to rethink their involvement. For US-based funds, it was the worst year since financial analytics firm Morningstar began tracking flows more than 10 years ago.
