A US retreat has resulted in an overall decline in the global market for environmental, social and corporate governance (ESG) investing.
That is according to the latest assessment by the Global Sustainable Investment Alliance (GSIA), which provides updates on the size of the market every two years.
The 2022 review, published on Nov 29, shows that investors had US$30.3 trillion (S$40.3 trillion) in sustainable assets, down from more than US$35 trillion in 2020.
In the United States, where high-profile Republicans have railed against ESG, investments in sustainable assets plunged to US$8.4 trillion in 2022 from just over US$17 trillion two years earlier.
The drop was attributed largely to a change in methodology used to calculate the numbers.
Still, questions about the future of sustainable finance persist in the US as lawmakers from more than a dozen states, spanning Utah to Florida, try to fight the incorporation of ESG principles into business and investing.
Denne historien er fra November 30, 2023-utgaven av The Straits Times.
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Denne historien er fra November 30, 2023-utgaven av The Straits Times.
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