'ESG tourists' are leaving, but sustainable funds are still growing in Canada

'ESG tourists' are leaving, but sustainable funds are still growing in Canada

The backlash against sustainable investing in the United States has now spread across the globe, as funds focused on environmental, social and governance (ESG) factors saw record-high outflow worldwide in the first quarter of 2025. Only two regions – Canada and Australasia (Australia and New Zealand) – continued to raise new money for sustainable funds in the first three months of the year. With Donald Trump’s anti-ESG policies looming over U.S.…