https://www.pionline.com/esg/us-esg-funds-notch-first-year-outflows-2023?utm_campaign=smartbrief
U.S. sustainable funds had their worst calendar year in 2023, according to Morningstar, which has been tracking them for more than a decade.
Investors pulled $13 billion from U.S. sustainable funds in 2023, including $5 billion in the fourth quarter alone, due to a combination of lagging performance, politics and one iShares fund’s bad year.
Christopher K. Merker, PhD, CFA, is a director with Private Asset Management at Robert W. Baird & Co. and executive-in-residence and co-director of the Marquette S-Lab. He is also founder and chair of the board of Water + Energy Forward, a green bank focused on market-based climate solutions. He holds a PhD in investment governance and fiduciary effectiveness from Marquette University, where he has taught “Sustainable Finance” since 2009. He publishes
Sustainable Finance and is co-author of
The Trustee Governance Guide: The Five Imperatives of 21st Century Investing.
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