ETFs tracking themes — such as robotics, blockchain and cannabis — closed the year just 1% higher than where it started.

Some 225 funds traded for the first time over the past 12 months, down for a second-straight year.

The fund will track an index that divides the industry into five categories: pharmaceuticals, testing and analytics, cultivators, hemp and ancillary business.

"It's going to become increasingly more important for financial professionals to understand the potential benefits of sustainable investing," an exec says.

“It’s going to become increasingly more important for financial professionals to understand the potential benefits of sustainable investing,” an executive says.

The planned launch from Cornerstone Capital would be the firm’s first stock fund for individual investors with social and environmental goals.

Challenges abound even without the issues posed by inconsistent global definitions.

“The market is actually using proxies for understanding ESG data,” says BlackRock’s global head of sustainable investing.

Equity funds tracking the sector are the second-most popular asset class after U.S. government bonds this year, BNP Paribas says.

As the sector grows to over $30 trillion in Europe, North America, Japan, Australia and New Zealand, one popular approach consists of excluding offenders.