Green is CrumblingWe all heard Sril Lanka economy tanked due to ESG and their president left town with the loot. Climate change didn't tank sri lanka, bad woke ideology and dogma did.
Blackrock closes 2 of the ESG funds
BlackRock announced the closure of two ESG-focused mutual funds on Sept. 15, while other firms such as State Street Corp., Janus Henderson Group and Columbia Threadneedle Investments have dissolved ESG funds so far in 2023, according to Bloomberg. More sustainable funds in the U.S. have closed this year than in the past three years combined.
When ESG funds became a popular trend in 2020 and 2021, firms rolled out a host of ETFs and mutual funds that focused on climate and social causes. But conservative backlash in the U.S. has stymied the growth of many of them. Now, funds are closing as many see outflows and poor performance.
BlackRock’s iShares ESG Aware MSCI USA ETF (ESGU) saw about $2.2 billion in outflows in the second quarter of 2023, the most of any sustainable ETF, according to Morningstar.
Panama just closed a huge copper mine operated by canadian First Quantum. With news of slow EV sales, new copper mines likely not get built, curtailing new copper supply.
MADSEN: Flat copper, EV glut and imploding wind power equal green crash (msn.com)