The market retreat comes as regulators start to erect guardrails around ESG labeling.
The billionaire investor told attendees of a global climate conference that profits still matter.
U.S. investments in ESG fell to $8.4 trillion last year from over $17 trillion two years ago.
Energy companies are doubling down on their fossil fuel businesses and scaling back ambitions for renewables.
An overwhelming majority of surveyed investors want politicians to stop interfering.
They're adjusting language to head off political conflicts tied to ESG investing.
Vanguard benefited from being more exposed to fossil fuels than its peers.
ESG strategies are running afoul of pro-competition, anti-cartel regulations in some jurisdictions.
Are the goals of climate activists compatible with low-cost, agnostic index investing?
Vanguard is walking out of the world's largest climate-finance alliance.
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