Bloomberg Law
Oct. 25, 2022, 11:10 AM

ESG Funds Face UK Watchdog Crackdown in Anti-Greenwash Drive (2)

Lisa Pham
Lisa Pham
Bloomberg News
Greg Ritchie
Greg Ritchie
Bloomberg News

The UK’s financial regulator made clear it will no longer tolerate vague ESG fund designations as it moves to crack down on investment managers that can’t back up their claims of targeting environmental, social and governance metrics.

Fund managers operating in the UK will face a “package of new measures, including investment product sustainability labels and restrictions on how terms like ‘ESG,’ ‘green’ or ‘sustainable’ can be used,” the Financial Conduct Authority said in a statement on Tuesday.

It’s the latest example of regulators tightening the screws around ESG investing, which after years of unfettered growth now accounts for roughly ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.