Global sustainable funds faced record outflows of $8.6 billion in Q1 2025, reversing $18.1 billion in inflows from the previous quarter, driven by geopolitical shifts and ESG backlash. Investors in the United States pulled money from sustainable funds for the 10th consecutive quarter, with withdrawals reaching USD 6.1 billion. Similarly, Europe saw its first net outflows since 2018, with $1.2 billion withdrawn, compared to $20.4 billion in inflows in Q4 2024

This quarterly report examines open-end funds and ETFs focused on impact, sustainability, or environmental, social, and governance (ESG) risk factors. This edition of the Global Sustainable Fund Flows report specifically covers recent activity in the global sustainable fund universe and details regional flows, assets, and launches for the first quarter of 2025.