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U.S. sustainable investing assets plunge by more than US$8 trillion

Corporate Knights

Sustainable investing assets in the United States have plunged by more than half to US$8.4 trillion at the end of 2021 from US$17.1 trillion at the end of 2019, according to a new report from the US Forum for Sustainable and Responsible Investment (US SIF). Sustainable investing assets skyrocket post 2014.

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Australia Court Finds Vanguard Guilty in Greenwashing Suit

ESG Today

The cases follow a warning by ASIC Chair Joseph Longo to providers of investment funds and financial products that the regulator was watching out for misleading sustainability claims, and that it was providing guidance for fund managers and issuers to keep clear of greenwashing.

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UK Regulator to Test Asset Managers’ ESG Claims for Greenwashing

ESG Today

The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, has informed asset managers that it will be testing the ESG and sustainable investing claims made in their communications with investors, as part of its efforts to reduce greenwashing risk.

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European Regulators Slammed for Approach to Greenwashing Probe

Chris Hall

A lack of engagement with key stakeholders and timing of greenwashing investigation among criticisms levelled at European Supervisory Authorities. Enforcement needed to tackle greenwashing Fixler said on LinkedIn that these actions “did more to tackle greenwashing than the entirety of SFDR [EU Sustainable Financial Disclosure Regulation].”

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CFA Institute, PRI, GSIA Issue Harmonized Definitions for Sustainable Investing

ESG Today

According to the organizations, the new resource follows significant growth in recent years in investor interest in ESG issues, driving a proliferation of investment products and practices, but also leading to new terminology that can be unclear or inconsistent.

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Much to Learn for EU Regulators on Greenwashing

Chris Hall

The European supervisory authorities (ESAs) and EU national competent authorities (NCAs) will need to build out their in-house resources and skill sets to effectively identify and handle instances of greenwashing by financial institutions, but greater guidance is recommended by observers rather than new waves of regulation.

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Greenwashing Managers Must Heed Watchdogs’ Bark

Chris Hall

Asset managers should expect and prepare to be challenged on the sustainability credentials of their ESG-labelled funds as financial markets watchdogs clamp down on greenwashing, according to regulatory experts. . The SEC has also recently fined BNY Mellon Investment Adviser US$1.5