BlackRock Dissolves ESG Funds as Firm Steps Back From Label (2 min read)
Several investment firms, including BlackRock, have closed down ESG (Environmental, Social, and Governance) focused funds in response to conservative backlash in the US. ESG funds surged in popularity in 2020 and 2021, but outflows and poor performance have prompted their closure to accelerate in the past year. Conversely, ESG funds are growing internationally, especially in Europe, where demand is strong.