The survey respondents were asked the following question- "To what extent do you feel that ESG investment funds should never invest in a company in the following sectors?"
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Extent of investor concern around ESG fund investments in Europe 2023
In 2023, a significant portion of respondents in Europe agreed that Environmental, Social, and Governance (ESG) funds should never invest in sectors such as deforestation, pornography, weapons, or pharmaceutical manufacturers. During that year, the share of investors who were against investment in all these sectors was above ** percent.
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AXA Investment Managers. (May 9, 2024). Extent investors feel Environmental, Social, and Governance (ESG) funds should not invest in specific sectors in Europe in 2023 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 29, 2026, from /statistics/1489469/concern-for-esg-fund-investments-europe/
AXA Investment Managers. "Extent investors feel Environmental, Social, and Governance (ESG) funds should not invest in specific sectors in Europe in 2023." Chart. May 9, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 29, 2026. /statistics/1489469/concern-for-esg-fund-investments-europe/
AXA Investment Managers. (2024). Extent investors feel Environmental, Social, and Governance (ESG) funds should not invest in specific sectors in Europe in 2023. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 29, 2026. /statistics/1489469/concern-for-esg-fund-investments-europe/
AXA Investment Managers. "Extent Investors Feel Environmental, Social, and Governance (Esg) Funds Should Not Invest in Specific Sectors in Europe in 2023." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 9 May 2024, /statistics/1489469/concern-for-esg-fund-investments-europe/
AXA Investment Managers, Extent investors feel Environmental, Social, and Governance (ESG) funds should not invest in specific sectors in Europe in 2023 ÌÇÐÄÆƽâ°æ, /statistics/1489469/concern-for-esg-fund-investments-europe/ (last visited July 29, 2026)
Extent investors feel Environmental, Social, and Governance (ESG) funds should not invest in specific sectors in Europe in 2023 [Graph], AXA Investment Managers, May 9, 2024. [Online]. Available: /statistics/1489469/concern-for-esg-fund-investments-europe/
