Concerns Raised Over 'Greenwashing' By Investment Funds

By Lucia Osborne-Crowley (September 9, 2021, 2:33 PM BST) -- The number of U.K. investment firms that say they are committed to sustainable finance is increasing, but there are "legitimate concerns" that managers are claiming their funds are greener than they actually are, according to a financial monitoring service.

XPS Pensions Group said on Wednesday that the proportion of investment firms in its survey achieving a so-called green rating — an award signifying they are committing themselves to reducing environmental damage — rose to 23% from 10% last year.

But the survey, which assessed 54 fund managers at 199 schemes on their management of environmental, social and governance risk, known as ESG,...

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