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Fund giants to ditch ‘dark green’ labels as ESG regulation ramps up
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More money managers are expected to downgrade the sustainability credentials of their European funds this year, building on a trend that gained steam late last year ahead of the European Union’s enforcement of anti-greenwashing rules.
The EU’s Sustainable Finance Disclosure Regulation, which came into full force this month, aims to boost transparency and crack down on exaggerated green claims. Investment firms must prove and disclose their funds’ sustainability credentials or face penalties under the rules, which have gradually...
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