(DCNF)—Investors are fading on green energy investment funds due to worries about the sector’s ability to grow and the possible return of former President Donald Trump to the White House, Reuters reported Wednesday, citing analysis conducted by a firm called LSEG Lipper.
Funds that invest specifically in green energy companies and products around the world saw investment outflows totaling $4.8 billion during the first quarter of 2024, the largest amount in a single quarter on record, according to Reuters. Meanwhile, the S&P Global Clean Energy Index has tanked by about 10 percentage points this year while the S&P 500 Energy Index — a fund that features many oil and gas companies — is up by more than 16% this year so far.
“This is what Consumers’ Research has been warning about from the very beginning. The idea that the rush into [Environmental, Social and Corporate Governance (ESG)] and green investing would be good for investors and shareholders was always a lie,” Will Hild, the executive director of Consumers’ Research, told the Daily Caller News Foundation. “Now, with higher interest rates and a completely different energy paradigm, the folly of these boondoggles is becoming apparent.”
Red State Slaps Wall Street Titan With Cease And Desist Order Over ‘Fraudulent’ Claims About Green Investments https://t.co/QyEv2WBR8c
— Daily Caller (@DailyCaller) March 27, 2024
Many large financial institutions in the U.S. have embraced ESG investing in recent years, characterizing it as a practice that allows for investors to profit while also helping to effectuate positive societal changes. Opponents like Hild have countered that the strategy violates the fiduciary duty that institutions have to their investors by injecting politicized considerations into financial decision-making that ought to be entirely apolitical.
Now, some of the leading asset managers in the world, such as BlackRock and State Street, are under investigation by the House Judiciary Committee for their ESG practices, while State Street and JP Morgan’s asset management arm have withdrawn from Climate Action 100+, a coalition that pushes companies to slash emissions and adopt other corporate climate policies.
Globally, some of the green funds that saw the biggest capital outflows in the first quarter of 2024 include Handelsbanken Hallbar Energi, a Swedish fund that lost $458 million of investment, and the iShares Global Clean Energy ETF, which lost $335 million, according to Reuters. Meanwhile, the Ninety One Global Environment Fund lost $226 million of investment in the first quarter.
The apparent downturn in investor confidence and interest in green energy funds appears to be happening despite the Biden administration’s push to advance its massive climate agenda and similarly costly initiatives undertaken by European states like Germany. Governments like those of the U.S. and Germany have spent vast sums of money to subsidize technologies like wind and solar power generation, but green energy has yet to displace fossil fuels as the lifeblood of the world’s developed economies.
If investor interest in green energy funds and products continues to dissipate, it is unlikely that international climate goals established or reaffirmed at 2023’s United Nations climate summit in Dubai will be met, according to Reuters.
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Independent Journalism Is Dying
Ever since President Trump’s miraculous victory, we’ve heard an incessant drumbeat about how legacy media is dying. This is true. The people have awakened to the reality that they’re being lied to by the self-proclaimed “Arbiters of Truth” for the sake of political expediency, corporate self-protection, and globalist ambitions.
But even as independent journalism rises to fill the void left by legacy media, there is still a huge challenge. Those at the top of independent media like Joe Rogan, Dan Bongino, and Tucker Carlson are thriving and rightly so. They have earned their audience and the financial rewards that come from it. They’ve taken risks and worked hard to get to where they are.
For “the rest of us,” legacy media and their proxies are making it exceptionally difficult to survive, let alone thrive. They still have a stranglehold over the “fact checkers” who have a dramatic impact on readership and viewership. YouTube, Facebook, and Google still stifle us. The freer speech platforms like Rumble and 𝕏 can only reward so many of their popular content creators. For independent journalists on the outside looking in, our only recourse is to rely on affiliates and sponsors.
But even as it seems nearly impossible to make a living, there are blessings that should not be disregarded. By highlighting strong sponsors who share our America First worldview, we have been able to make lifelong connections and even a bit of revenue to help us along. This is why we enjoy symbiotic relationships with companies like MyPillow, Jase Medical, and Promised Grounds. We help them with our recommendations and they reward us with money when our audience buys from them.
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Even our faith-driven precious metals sponsor helps us tremendously while also helping Americans protect their life’s savings. We are blessed to work with them.
Independent media is the future. In many ways, that future is already here. While the phrase, “the more the merrier,” does not apply to this business because there are still some bad actors in the independent media field, there are many great ones that do not get nearly enough attention. We hope to change that one content creator at a time.
Thank you and God Bless,
JD Rucker
