Hot corner of ESG investing is cooling fast and losing cash

After a stellar 2020, the record-breaking boom in clean-energy funds is rapidly giving way to a bust.

Investors are yanking cash from the sector at the fastest pace in a year, while two of the biggest exchange-traded funds tracking the industry -- the iShares Global Clean Energy ETF (ICLN) and Invesco Solar ETF (TAN) -- have each tumbled at least 24 percent in 2021.

Since the beginning of May, about USD 154m has been pulled from clean-energy ETFs.

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