The Association of the Luxembourg Fund Industry says 11% of European assets under management are now in sustainable funds.

The association says that a record €1.12 trillion in investor money has flowed toward strategies that target ESG and that total sustainable assets have more than doubled since 2018 with the number of new ESG fund strategies launched last year rising by almost 50% in 2020 from a year earlier.

“The large investors, the pension funds, institutional investors, they have already said that in one or two years time they will not consider mainstream funds any more,” Marc-André Bechet, deputy director general at ALFI, told Bloomberg.