Record $20 Billion Pulled From US ESG Funds After GOP Attacks

US fund managers trying to sell ESG strategies just had their worst year ever.

According to fresh data provided by Morningstar Inc., US sustainable funds suffered almost $20 billion of net redemptions in 2024, up from roughly $13 billion 2023. Funds had seen inflows in previous years, the market researcher’s data show.

It’s the latest sign that environmental, social and governance metrics are under siege in the world’s largest economy. The Morningstar data come as Wall Street firms spanning JPMorgan Chase & Co. to BlackRock Inc. all back away from major climate finance organizations that just a few years ...