Sustainable finance is rife with greenwash — time for more disclosure | Curio

Sustainable finance is rife with greenwash — time for more disclosure

7 mins | May 24, 2021

Green and cuddly funds may be stuffed full of polluters.

 “Unfortunately the boom has been accompanied by rampant “greenwashing”. This week The Economist crunches the numbers on the world’s 20 biggest ESG funds. On average, each of them holds investments in 17 fossil-fuel producers. Six have invested in ExxonMobil, America’s biggest oil firm. Two own stakes in Saudi Aramco, the world’s biggest oil producer. One fund holds a Chinese coal-mining company. ESG investing is hardly a champion of social virtue either. The funds we looked at invest in gambling, booze and tobacco.”

publisher logo

From The Economist