Flows into ESG ETFs in Europe surged in November, reaching a record €7.5 billion in the month, nearly doubling last month’s record-setting pace, according to exchange traded fund provider Lyxor ETF’s latest Money Monitor report.

According to the report, November was a strong month overall for ETFs, with net flows of €18.3 billion, driven primarily by equities, which gathered €17.1 billion in net new assets. The outperformance by equities was reflected in ESG ETFs, with flows into equity ESG ETFs reaching €6.5 billion in the month, while fixed income ESG ETF flows were consistent with October’s pace of €1 billion.

Year-to-date, net flows into ESG ETFs have reached €35.7 billion, accounting for more than half of the total ETF market’s net new assets of €66.7 billion.