"If you're in a money management business, you do need returns," said Yergin.
"And we've seen that with more North American funds that, yes, we want to do energy transition, we want to do ESG.
But we actually need returns as well.
In the second quarter of this year, investors have pulled $635 million from U.S. sustainable funds, according to funds research firm Morningstar.
That racks up a total outflow of $11.4 billion from these sustainable funds in the past year.
Persons:
Dan Yergin, Yergin, Morningstar
Organizations:
CNBC, Blackrock
Locations:
U.S