When presenting investment ideas to clients, money manager Garvin Jabusch would display a chart of the planet’s rising temperatures for over ten years, claiming that they could both save the planet and make money. He avoids discussing climate change these days and no longer uses the chart.

“I’ve given up on anyone ever caring about that,” said Jabusch, investment chief of Green Alpha Investments, which manages about $300 million.

He is not the only climate-minded investor who minimizes mentions of global warming and associated issues. The largest US sustainable investment company, Parnassus Investments, has taken down any mention of its funds being “fossil-fuel free” from its website.

Additionally, Engine No. 1, a small activist group that spearheaded the 2021 board reorganization of ExxonMobil Corp., has taken down the statement on its website that investing in employees, communities, and the environment “greatly enhances” corporate performance. Now, the fund claims to invest in businesses that are “fostering innovation and propelling the United States.”

It’s not new to change messages to reflect shifting markets. However, following four years of falling green investment prices and Republican attacks on Big Oil for allegedly rejecting fossil fuels, more and more sustainable investors are changing their previous talking points. The deal might have been sealed with the election of Donald Trump, who has called global warming a hoax and is an outspoken opponent of ESG investing.

According to researchers at Morningstar Inc., the panicked withdrawal by investment firms also comes after a year in which clients withdrew a record $20.1 billion from sustainable-investment funds.

Established in 1984, Parnassus is based in San Francisco and oversees $46 billion. Due to poor investment performance, the company was responsible for nearly one-third of the industry’s withdrawals. Last year, Parnassus Core Equity, its largest fund, returned 18.8%, while the S&P 500 gained 25%. The fund has outperformed the index, rising 4% so far this year.