ESG funds operating in Europe are facing a forced divestment from oil and gas companies under new French regulations. Per the new regime, ESG funds that want to earn the official French label of “socially responsible” investing, will be banned from holding stocks in oil and gas companies engaged in new exploration and production. Since there is virtually no oil and gas company that does not engage in new exploration and production, the new rules would mean divestment, the Financial Times reports, citing sources from the financial…
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