A report by Morningstar shows that US investors withdrew $11bn from ESG funds in the year to July 2023.

Anti ESG sentiment in the US has led to three consecutive quarters of negative flows from ESG funds with the past quarter alone seeing $635 million in outflows. Total outflows over the past 12 months comes to $11.4 billion from both active and passive funds.

Sustainable bond funds saw inflows of $288 million in Q2 but sustainable equity funds lost $838 million during the quarter, their third consecutive quarter of losses.

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