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The year of ESG was worse in politics than stock market performance

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ESG took a big political hit this year, but heading into 2023, investors are sticking with a stock picking approach that did about the same as the broad market.

Months of headlines have featured GOP politicians criticizing investment firms including BlackRock for offering funds that focus on environmental, social and governance issues.

In a bad year for stocks, investors added less to sustainable funds, but will end the year close to flat in asset flows.Rawpixel | iStock | Getty Images You could be excused for thinking, after months of headlines about "woke capitalism" and big stock market declines, that socially-conscious investing was on the run, dogged by hostility from politicians who think that focusing on corporate governance and environmental impact means burning retirees' money to push an agenda other than bottom line return on investment.

The market's struggles in December will likely erase that small gain in net flows by year-end, but the lack of a stampede out of ESG funds belies the negative narrative that has sprung up around ESG investing, said Alyssa Stankiewicz, Morningstar's associate director of sustainable fund research. "Anti-ESG has gotten a lot of attention, and it isn't necessarily reflected in the data," Stankiewicz said. "ESG didn't have that rough of a year at all.

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Why 2023 will be like 1967’s ‘Summer of Love’ for the stock marketI can’t promise another “Summer of Love” for 2023 when it comes to sex, drugs or rock ‘n’ roll. But I do believe the New Year will deliver a surprisingly strong stock market globally. What a shitty metaphor. Summer of love. Others and I were having our asses blown off. While protesters were getting laid and stoned, and military contractors were making military. History repeating itself. Thoughts? In 1967 I was only 6 yrs old, so while I was alive during this time, I obviously didn't have a clue.Then the 70's was a whole other shitshow.Then the 80's when I can say I was actively aware, was awesome. Now here we are and have reversed in so many ways. Gains,now lost
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