Almost 5,000 funds marketing themselves as ESG now hold stakes in companies in the fossil-fuel industry, according to a fresh study of the European market by a team of nonprofits.
The study, which is based on an analysis of more than 14,000 European funds claiming to target environmental, social and governance goals, found that well over a third of those funds had together invested more than €123 billion ($134 billion) in companies “actively pushing” projects that expand the production of oil, gas and coal, according to its authors Urgewald and Facing Finance.
The analysis is the latest to raise ...
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