Bloomberg Law
Feb. 1, 2023, 7:23 PM

Investors Face Deceptive ESG Reporting, SEC Enforcement Boss Says

Andrew Ramonas
Andrew Ramonas
Senior Corporate Disclosure Reporter

SEC enforcement lawyers are finding deceptive environmental, social and governance disclosures from companies and investment funds, as investor demands for ESG information persist, a senior agency official said Wednesday.

The Securities and Exchange Commission continues to observe needless risks for ESG investors from inaccurate disclosures, said Gurbir Grewal, the agency’s Enforcement Division director. The SEC has credited its Enforcement Division Climate and ESG Task Force with at least four cases, last connecting it to a November 2022 action against Goldman Sachs Group Inc. over allegations of misleading ESG fund marketing and invesment policy failures.

“We’re seeing a lot of issues ...

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