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BlackRock, Amundi could face ‘substantial’ costs from ESG downgrade reversal
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BlackRock, Amundi and other asset managers that downgraded swathes of their greenest passive funds may be forced to upgrade them again, incurring “substantial” costs after softer guidance on the EU's ESG rules.
The European Commission clarified key definitions within the Sustainable Finance Disclosure Regulation on 14 April.
Asset managers...
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