The ESG crackdown is coming for Goldman Sachs ...Middle East

Quartz - Economy
The ESG crackdown is coming for Goldman Sachs
source : Quartz ( Middle East ) () 34
Regulators in the US and Europe are cracking down on greenwashing by financial firms, and on June 10 targeted their biggest potential perpetrator to Goldman Sachs.In response to investor interest in climate-friendly products, banks and asset managers have been racing to slap “ESG” labels on their offerings, which ostensibly indicate an investment fund is composed of shares in companies with strong environmental, social, and governance credentials. But the absence of regulations around these labels means that firms like S&P and MSCI established their own ratings, using murky and sometimes dubious methodologies. As a result, many “ESG” funds still hold major emitters like ExxonMobil, and

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