In its 2024 ESG Barometer report, the firm, part of Allfunds Group, noted the proportion of Article 8 funds at risk of greenwashing had increased in recent years, from 21% and 20% in 2021 and 2022, respectively, up to 24% last year.
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It said the main reason for this was that the vehicles have done “close to the bare minimum to classify as an Article 8 product”, such as holding few negative exclusions or enforcing basic ESG integration, leading to ESG standards not being “strong enough”.
For Article 9 funds, just 6% face the same risk, the…
