illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: Sustainable funds globally experienced a significant slowdown in 2023, with reduced demand due to political controversy and greenwashing concerns 
• Despite this, many such funds outperformed the broader market, bolstered by the recovery of technology stocks

🔭 The context: ESG (Environmental, Social, and Governance) investing surged during the COVID-19 pandemic but faced a downturn in 2022 as conventional energy prices rose 
• Political backlash in the U.S. and greenwashing allegations have also impacted the sector's appeal

🌍 Why it matters for the planet: The fluctuating interest in sustainable funds reflects the complex interplay between environmental concerns and market dynamics 
• These funds are vital for channeling investments into environmentally and socially responsible ventures

⏭️ What's next: Despite current challenges, there are signs of a more favorable market for sustainable strategies, with falling inflation and interest rates 
• Responsible funds continue to attract net new deposits relative to their total asset growth

💬 One quote: Sam Whitehead of Invesco noted that while clean energy took a beating in 2023, fundamental demand for solar and supportive government policies give a positive outlook

📈 One stat: The Dow Jones Sustainability World Index had a total return of 21.7% from the start of the year to Tuesday, compared to the broader market index's return of 17%

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