New research suggests Wall Street is banking on bogus claims
Save time by listening to our audio articles as you multitaskThat has exposed European fund managers to accusations of greenwashing, and for some the label is deserved. But, an academic journal, suggests American firms are doing worse. When it comes to sustainable investing, Wall Street stalwarts appear to run a fully fledged laundromat of exaggerated sales pitches and bogus claims.
American fund managers might argue, in their defence, that they are trying to help dirty companies get greener rather than simply dumping their shares as European funds might do, and are being penalised for this. But the researchers find little evidence of that. Instead they report that Americansignatories were less likely to engage, as shareholders, with the companies they owned than their European counterparts.
Belgique Dernières Nouvelles, Belgique Actualités
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