Posted on 11/11/2022 5:46:29 AM PST by Oldeconomybuyer
NEW YORK/BOSTON (Reuters) - Funds adhering to environmental, social, and corporate governance (ESG) principles have been hit by unprecedented outflows in the market downturn, as investors prioritize capital preservation over goals such as tackling climate change.
ESG, a classification applied to fund assets currently worth an estimated $6.5 trillion, is being tested by a drop in market values fuelled by concerns that central banks hiking interest rates to fight rampant inflation will trigger an economic recession.
Investors souring on ESG funds could pose a challenge to governments seeking to enlist them in the fight against climate change. Policymakers at the COP27 climate talks in Egypt are trying this week to secure more financing from the private sector to help lower carbon emissions.
Data from research service Refinitiv Lipper shows that funds of equities, debt and other asset types dedicated to responsible investing posted net outflows globally of $108 billion this year to the end of September, the first time investors withdrew money from them over such a long period since Refinitiv started tracking them in late 2017.
Moreover, investors pulled money out of responsible investment funds - defined as such because they use criteria like ESG or religious values in their investment decisions - faster, relative to their size, than broader market funds for all but two months of 2022 through September, the data shows.
(Excerpt) Read more at news.yahoo.com ...
It’s completely in-marketable if US investors disagree with lobbyists in America. I believe this is the first sign of sanity. Continuously bailed out corporations are worried about the phones money printing presses.
Carbon scheme was always a tax on the working class. The wealthy can buy credits and many poor pay zero of their own dollars because they are heavily, if not entirely paid to stay home… this creates a second level of taxation on the working class. Grind the working class between the millstones of taxation and inflation… the Marxist way.
Ooopsie. Reality setting in!
shouldn’t the first step to lowering carbon emissions be to mandate all Government Employee’s worldwide use 100% fossil free methods of transportation on perpetuity?? Lead by example and show us how it is done.
Private jet planes require fossil fuels to fly .. DUH
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