by editors €uro on Sunday
Under greenwashing one understands the deliberately exaggerated presentation of the sustainability of an investment and thus the misleading of investors. The SEC set up its own task force to uncover “green misconduct” by investment companies and banks. Earlier this year, the Bank of New York Mellon was fined $1 million. DWS is also confronted with accusations of greenwashing.
The investigations of the SEC are said to refer specifically to the blue chip fund. This was renamed US Equity ESG Fund by GSAM two years ago. Whether GSAM is now also threatened with a fine remains to be seen. However, the activities of the supervisory authorities should motivate the investment companies to be more diligent and transparent.
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Image sources: IPConcept