U.S. Falls Further Behind Europe in Fast-Growing ESG Market
Dec 22 2020, 12:13 AM
December 21 2020, 10:31 AM
December 22 2020, 12:13 AM
(Bloomberg) For all the talk about ESG, the U.S. is a real laggard.
(Bloomberg) For all the talk about ESG, the U.S. is a real laggard.
With many U.S. money managers still struggling with the trade-off between generating returns and taking environmental, social and governance factors seriously, European firms have built a seemingly unassailable lead in the booming $40 trillion sustainable finance industry.
Europe dominates in the debt markets, where U.S. green bond sales fell 5% in a record year for global issuance, and in sustainable funds, where inflows to European offerings were about five times larger this year than investments in the U.S. Pricewaterhouse Coopers LLP estimates that Europe accounts for almost 70% of global ESG mutual fund assets.