Global investments in trendy sustainability assets shrank by nearly $5 trillion over two years, researchers say, as US and other financiers soured on investments seen as risky and opaque.

In its biannual assessment, the Global Sustainable Investment Alliance (GSIA) said on Wednesday that investors had $30.3 trillion in sustainable assets in 2022, down from $35.3 trillion in 2020.

In the US, where Republicans have railed against ESG funds, which push for environmental, social, and governance benefits, such assets plunged from more than $17 trillion to just $8.4 trillion over the same period.
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