Read more: What Elon Musk missed in his tirade over Tesla's ESG index ejection Rick Redding, IIA's CEO, commented: "The index industry continues to meet the needs of the marketplace by creating innovative solutions. Highlighted again this year by record growth in ESG, index providers are empowering investors with the ability to define, track and better understand an ever-broadening range of financial markets, sectors, investment styles and asset classes." "The results also reveal index providers are diversifying into additional asset classes and increasing competition in every major category," he added. The number of ESG indexes worldwide increased by 55% and topped 50,000 internationally across all asset classes for the first time in 2022, though the industry's overall growth rate this year (4.43%) was slightly slower than 2021's rate of over 5%.