COP26 Spurs Record $2B Inflows into UK ESG Funds in November
LONDON (Reuters) – UK-based environmental, social and governance (ESG) equity funds saw a record 1.5 billion pounds ($2 billion) in inflows in November as COP26 climate talks spurred investor interest in sustainability, according to funds network Calastone.
The climate summit in Glasgow, Scotland, in the early part of last month led to a deal to phase down the use of coal, the biggest source of global warming.
“ESG continues to capture investor imagination,” said Edward Glyn, head of global markets at Calastone.
“When investors have cash to add, they add it to ESG, and any impulse to sell is felt by other categories.”
North American and European-focused equity funds saw record outflows, in contrast, of 395 million pounds and 534 million pounds respectively, Calastone said.
Calastone says it is the largest global funds network, processing 200 billion pounds of investment value each month.
($1 = 0.7556 pounds)
(Reporting by Carolyn Cohn; Editing by Mark Potter)
