Six new funds launched in five months. That’s the speed at which India’s sustainable investing bandwagon is moving.
Till October 2020, India had just three ESG (environmental, social, and governance) funds. ICICI Prudential Mutual Fund launched its sustainable offering the same month; by February 2021, American investment management firm Invesco’s ESG fund had become the sixth new fund to be launched since then. Some of the other entrants also include Kotak ESG Opportunities Fund and Aditya Birla Sun Life ESG Fund.
With that, India’s assets in sustainable funds stood at Rs 9,670 crore ($1.3 billion) as of February.