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NGO Research Shows European ESG Funds Investing Heavily in Fossil Fuel Firms

OilPrice · Charles Kennedy · last updated
European ESG funds have invested $134 billion (123 billion euros) in companies actively pushing fossil fuel expansion projects or lacking a credible Paris-aligned coal phase-out plan, in what NGOs Urgewald und Facing Finance say is a massive greenwashing by well over one-third of the 14,000 ESG-labeled funds analyzed. The ESG funds are known as Article 8 and Article 9 funds under the EU’s Sustainable Finance Disclosure Regulation (SFDR), adopted in 2021. The so-called Article 8 funds are registered as “promoting” ESG goals, while…
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