Gustavo Bernal Torres
ESG/BlackRock: Greenwash Should No Longer Wash in Investment
Fund managers’ green claims must face as much scrutiny as their investment return projections-
It may be the beginning of the end for asset managers who sell old funds in new green bottles. This week, a new EU regulation requires European fund groups to start backing up their claims of investing sustainably. The world’s largest, BlackRock, wrote to European clients on Wednesday promising to increase the proportion of investments that meet the EU guidelines.
"Bogus claims abound in the world of ESG. Revealingly, the largest weighted constituents of MSCI’s World ESG Leaders are very similar to those of its regular world equities index. It is time for the authorities to police the green claims of fund managers as tightly as their projections on investment returns."