This Rock Center for Corporate Governance/Stanford Graduate School of Business/Hoover Institution report: "2023 Survey Of Investors, Retirement Savings, And ESG” reveals a sharp decline in support among young (ages 18 – 41) and middle-aged (ages 42 – 57) retail investors in particular for using their investments to further ESG goals compared to the prior year survey, which we reported on here. While still registering more concern about environmental, social, and governance issues and a greater tolerance or desire to influence corporate ESG practices through their investments than the Boomer generation (ages 58+), the decline in support year-over-year among these age groups is dramatic.
The survey was conducted in the fall of 2023 among 993 diverse (e.g., gender, race, age income, geography) retail investors who hold their investments through major institutional investors including Fidelity (39%), Vanguard (25%), American Funds (19%), BlackRock (95), Invesco (6%), State Street (5%), and others.