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Reuters
‘Always check the label’: ESG funds not as green as they seem – study
One in seven funds branded as sustainable has a carbon emissions intensity higher than the average across all investment funds, and no climate-labelled fund has a portfolio fully aligned with the Paris Agreement’s goal, a study showed on Tuesday. The analysis, conducted by sustainability data and technology platform ESG Book, is the latest to question the reliability of funds marketing themselves on environmental, social and governance (ESG) grounds. ESG- and climate-labelled funds have boomed in recent years as trillions of dollars are looking for products that are deemed more socially and environmentally friendly, prompting regulators to increase scrutiny of investment managers’ claims.
