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(DCNF)—Investors are fading on green energy investment funds due to worries about the sector’s ability to grow and the possible return of former President Donald Trump to the White House, Reuters reported Wednesday, citing analysis conducted by a firm called LSEG Lipper.
Funds that invest specifically in green energy companies and products around the world saw investment outflows totaling $4.8 billion during the first quarter of 2024, the largest amount in a single quarter on record, according to Reuters. Meanwhile, the S&P Global Clean Energy Index has tanked by about 10 percentage points this year while the S&P 500 Energy Index — a fund that features many oil and gas companies — is up by more than 16% this year so far.
“This is what Consumers’ Research has been warning about from the very beginning. The idea that the rush into [Environmental, Social and Corporate Governance (ESG)] and green investing would be good for investors and shareholders was always a lie,” Will Hild, the executive director of Consumers’ Research, told the Daily Caller News Foundation. “Now, with higher interest rates and a completely different energy paradigm, the folly of these boondoggles is becoming apparent.”
Red State Slaps Wall Street Titan With Cease And Desist Order Over ‘Fraudulent’ Claims About Green Investments https://t.co/QyEv2WBR8c
— Daily Caller (@DailyCaller) March 27, 2024
Many large financial institutions in the U.S. have embraced ESG investing in recent years, characterizing it as a practice that allows for investors to profit while also helping to effectuate positive societal changes. Opponents like Hild have countered that the strategy violates the fiduciary duty that institutions have to their investors by injecting politicized considerations into financial decision-making that ought to be entirely apolitical.
Now, some of the leading asset managers in the world, such as BlackRock and State Street, are under investigation by the House Judiciary Committee for their ESG practices, while State Street and JP Morgan’s asset management arm have withdrawn from Climate Action 100+, a coalition that pushes companies to slash emissions and adopt other corporate climate policies.
Globally, some of the green funds that saw the biggest capital outflows in the first quarter of 2024 include Handelsbanken Hallbar Energi, a Swedish fund that lost $458 million of investment, and the iShares Global Clean Energy ETF, which lost $335 million, according to Reuters. Meanwhile, the Ninety One Global Environment Fund lost $226 million of investment in the first quarter.
The apparent downturn in investor confidence and interest in green energy funds appears to be happening despite the Biden administration’s push to advance its massive climate agenda and similarly costly initiatives undertaken by European states like Germany. Governments like those of the U.S. and Germany have spent vast sums of money to subsidize technologies like wind and solar power generation, but green energy has yet to displace fossil fuels as the lifeblood of the world’s developed economies.
If investor interest in green energy funds and products continues to dissipate, it is unlikely that international climate goals established or reaffirmed at 2023’s United Nations climate summit in Dubai will be met, according to Reuters.
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‘Merely Coincidental’: Secular Scientist Work Overtime to Explain Away the Miracles of Christ
by Harbingers Daily
Was the miracle of Jesus feeding the 5,000 with just five loaves and two fish a little less than miraculous? Well, that’s what a group of scientists are claiming in a recent paper published in a scientific journal. Instead of a supernatural provision by the Lord, they claim the feeding…
Google Hosts Party for Democratic Operatives Plotting To ‘Resist the Republican Agenda’
by Free Beacon
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“The Correction Before the Surge”: Why Gold and Silver’s Future Is Brighter Than Ever
by Sponsored Post
It was long overdue by most estimates. Precious metals prices have been steadily rising for far longer than even the …
Ukraine Denies Reports From Think Tank That It Is Months Away From Developing a Nuclear Weapon
by Natural News
Ukraine has denied reports suggesting it could develop a nuclear weapon soon, following claims by a Ukrainian military think tank. The report, published by the Ukrainian think tank and nongovernmental organization the Center for Army, Conversion and Disarmament Studies, claimed that Kyiv could use spent nuclear fuel from its remaining…
Alex Jones Reveals Elon Musk Saved Infowars From Being Sold to The Onion
by End Times Headlines
Alex Jones has declared ‘the cavalry is here’ as attorneys for Elon Musk’s X jumped in to help put a temporary pause on the sale of his controversial Infowars to The Onion. The satirical news publication said the bid was sanctioned by the families of Sandy Hook Elementary victims who…
FBI Whistleblower Says FBI Intentionally Blocking Security Clearances for Trump Officials
by The Conservative Treehouse
It should not come as a surprise to see the same methods deployed against President Trump in 2024 that were used by the FBI in 2016. The difference is now that President Trump understands the full power of his office in the security clearance process and that he doesn’t need…
Pastor Greg Locke Burns Voodoo Doll He Claims Was Found on His Property
by End Times Headlines
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by WND
Social media companies have become a “cartel” for suppressing information with which they disagree, and that agenda now is going to be getting the attention of Brendan Carr, President-elect Donald Trump’s pick to be the chairman of the Federal Communications Commission. It was social media companies who played a role…
Sabotage: Two Undersea Internet Cables Connecting Four NATO Nations Were Severed
by Publius
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Pennsylvania Supreme Court Orders Democrats to Immediately End Counting of Illegal Ballots
by Infowars
The Pennsylvania Supreme Court on Monday ordered Democrats in several counties to immediately halt their unlawful counting of illegal ballots in the Senate race recount. The Pennsylvania Supreme Court had ruled before the election that mail-in ballots lacking formally required signatures or dates should not be included in official results….
22-Year-Old Woman With Depression Was Almost Euthanized, She Changed Her Mind Right Before She Was Killed
by Life News
Why do you oppose euthanasia, Wesley? If people want to die, we should help them die. No. And here’s an individual example explaining just one reason why. A deeply depressed woman was about to be lethally injected in the Netherlands — but changed her mind just in the nick of…
“Massive Breach”: T-Mobile Network Hacked by Chinese State Sponsored Intelligence
by Tyler Durden, Zero Hedge
(Zero Hedge)—Where’s John Legere in a pink t-shirt when you need him? Among the multiple stories over the last few weeks about Chinese intelligence and hackers either attempting to, or outright gaining access, to U.S. cell phone networks (with reports stating President Trump and his team were targeted), comes news…
Trump’s Idea to Shut Down Department of Education Gets High Five From Top Christian Evangelist
by WND
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Experts Sound Alarm Over ‘Shocking’ Spike in Strokes Among ‘Healthy’ Young People
by Slay News
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