Dubious green funds are rampant in America
New research suggests Wall Street is banking on bogus claims
It is not easy being green. In November Amundi, Europe’s largest investment manager, downgraded most of its €45bn ($47bn) of funds ranked Article 9, the highest grade in the EU’s sustainability disclosures, to Article 8, or “light green”. New regulations are forcing many others to recast their wares in less virtuous colours. Nearly one-tenth of all Article 9 funds have left the category since the European Commission tightened its criteria, in July.
This article appeared in the Finance & economics section of the print edition under the headline “Uncle Sham”
Finance & economics December 3rd 2022
- How the West’s price cap on Russian oil could roil energy markets
- Dubious green funds are rampant in America
- The EU’s top court has made it harder to uncover dirty money
- Why central banks are stockpiling gold
- Developing countries take tax talks to the UN
- Has private equity avoided the asset-price crash?
- A playbook from the 1980s for dealing with inflation
From the December 3rd 2022 edition
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