10.24.24

Hundreds of ESG Funds Are Being Wound Down

by: Frances Schwartzkopff

Asset managers in the United States and Europe have been winding down hundreds of funds focused on environmental, social and governance (ESG) issues, according to data from Morningstar. In the third quarter alone, European investment firms liquidated or merged 102 funds touting sustainable goals, bringing the total to 349 this year. In the United States, 12 funds were liquidated, including five managed by BlackRock Inc. More upheaval is likely to be ahead, as new rules designed to crack down on greenwashing are implemented, Morningstar stated.

Read the full article on Bloomberg