EU ESG AuM (EUR bn)
Number of funds as of end-2023
Since the implementation of the SFDR in 2021, there has been an undeniable surge in ESG investments. By the end of 2023, the AuM of funds disclosing under Art.8 and Art.9 of the regulation reached an impressive EUR 6.2 tn, marking a substantial increase of over EUR 1 tn compared to 2022, when the AuM of Art.8 and Art.9 totaled EUR 5.1 tn.
Our projections indicate that by 2027, these figures will soar to EUR 9.4 tn, demonstrating a CAGR of 10.9% and representing approximately 75% of the total EU ESG UCITS AuM (up from 61.5% in 2023).
Due to the stringent requirements and increased scrutiny from regulatory authorities, Art.9 funds experienced a slight decline in both AuM and number of funds in 2023. AuM decreased to EUR 312 bn in 2023, down from EUR 342 bn in 2022, while the number of funds dropped from 979 to 963.
EU ETFs AuM as of end-2023
Despite still representing a minority within the exchange-traded funds (ETFs) landscape, the collective AuM of Art. 8 and Art. 9 ETFs exceeded EUR 367 bn in 2023. This accounted for 24.4% of the total AuM of EU ETFs, marking a significant increase of 59% compared to 2022. This underscores the growing interest in sustainable investment products within the ETF universe.
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Michael Delano
Asset & Wealth Management Leader, Audit Partner, PwC Luxembourg
Tel: +352 49 48 48 2109
Frédéric Vonner
Advisory Partner, Sustainable Finance & Sustainability Leader, PwC Luxembourg
Tel: +352 49 48 48 4173
Partner, Global AWM Market Research Centre Leader, PwC Luxembourg
Tel: +352 49 48 48 2191
Geoffroy Marcassoli
Audit Partner, ESG Assurance Leader, PwC Luxembourg
Tel: +352 49 48 48 5410