Global ESG market shrinks after US drop

Slowing pace: A line of Model Y electric vehicles is pictured at Tesla’s gigafactory in Berlin. Investors expect the clean energy downturn to continue into 2024, with the negative sentiment extending to players like Tesla. — AFP

NEW YORK: A US retreat has resulted in an overall decline in the global market for environmental, social and governance (ESG) investing.

That’s according to the latest assessment by the Global Sustainable Investment Alliance (GSIA), which provides updates on the size of the market every two years.