European sustainable funds saw record inflows of €120 billion ($132 billion) in 2019.

Funds in Europe that apply ESG criteria into their strategies grew by 56% in 2019 to €668 billion, according to Morningstar. More than 50 of the 360 funds started last year had a climate-oriented mandate, the firm said. The number of ESG funds based in Europe rose to 2405 last year, with 105 new offerings launched in the fourth quarter, Morningstar said.