Activist shareholders targeted 449 companies with mostly large market capitalizations.

Despite the notion that an ESG backlash is pushing clients away, private equity products aiming to solve challenging problems through investments are still on the rise.

Before he became a Republican vice presidential candidate, and shortly after he published "Hillbilly Elegy," JD Vance worked for five years in venture capital.

Of the $156B raised by private credit funds last year, about 16% went into products claiming to target ESG goals — the most in a decade.

An SEC rule that would increase requirements for companies to disclose their emissions was paused following a lawsuit this spring.

Climate-related disclosures will bring complexities requiring short- and long-term action by financial institutions, and the first reporting could begin in fiscal 2025.

"It would be irresponsible for us to ignore factors that can fundamentally impact the long-term viability of investments," said CalPERS interim Chief Investment Officer Dan Bienvenue of climate risks.

Despite attacks on the broader ESG strategy, a narrow niche focused on women had a positive quarter.

Active funds still dominate the ESG space, but passive, cheaper indexes are making ground.

The ESG closure rate is far outpacing last year.