{"id":20863,"date":"2023-10-19T14:55:26","date_gmt":"2023-10-19T14:55:26","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=744907"},"modified":"2023-10-19T14:55:26","modified_gmt":"2023-10-19T14:55:26","slug":"uk-financial-watchdog-says-some-funds-mislead-investors-with-esg-label","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/10\/19\/uk-financial-watchdog-says-some-funds-mislead-investors-with-esg-label\/","title":{"rendered":"UK Financial Watchdog Says Some Funds Mislead Investors With ESG Label"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2023\/10\/greenwashing-concept-with-cardboard-factory-459344895-bigstock-580x387.jpg\"><\/p>\n<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2023\/10\/greenwashing-concept-with-cardboard-factory-459344895-bigstock-scaled.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2023\/10\/19\/744907.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2023\/10\/19\/744907.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"reuters\">Britain\u2019s financial watchdog said on Thursday it was having to \u201cpush back\u201d against some investment funds that misleadingly attempt to label themselves as being focused on environmental, social and governance (ESG) based performance.<\/p>\n<p>Regulators across the world are seeking to crack down on \u201cgreenwashing,\u201d or over-inflated climate friendly claims by companies and funds to attract investment.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>There are huge numbers of applications from funds seeking to register as being ESG-focused funds or re-labeling themselves as sustainability-focused as a large volume of money enters the fast growing investment sector, said Mhairi Jackson, policy lead in asset management at the Financial Conduct Authority (FCA).<\/p>\n<p><strong><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2023\/10\/17\/744567.htm\" target=\"_blank\" rel=\"noopener\">Banks Told to Review Clients in Historic ESG Crackdown in EU<\/a><\/strong><\/p>\n<p>\u201cWe have seen some passive funds with ESG related names that are actually just passive funds, they are just replicating normal indexes that don\u2019t have a ESG focus, which we deem to be completely misleading and something we have been pushing back on,\u201d Jackson told a conference held by Luxembourg funds industry body Alfi.<\/p>\n<p>\u201cWe\u2019ve also seen some funds come through where the fund\u2019s proposed holdings differ very much from the objectives and the statements that they are holding our to be true,\u201d she said.<\/p>\n<p>One fund that was calling itself sustainable was invested in a large number of high carbon emitting companies in its top 10 holdings, she added.<\/p>\n<p>The FCA has been consulting on new sustainable disclosure requirements for investment funds, and is now considering the feedback before issuing final rules.<\/p>\n<div class=\"bzn bzn-sized bzn-intext-2\">\n<ins data-revive-zoneid=\"162\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>The watchdog has been reconsidering its original proposals for marketing restrictions that were set out in the consultation paper, and refining criteria for qualifying for an ESG label, Jackson said.<\/p>\n<p>(Reporting by Huw Jones; editing by Mark Potter)<\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"744907\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>The most important insurance news,in your inbox every business day.<\/h4>\n<p>Get the insurance industry&#8217;s trusted newsletter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments Britain\u2019s financial watchdog said on Thursday it was having to \u201cpush back\u201d against some investment funds that misleadingly attempt to label themselves as being focused on environmental, social and governance (ESG)&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":20864,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[4,340,341,89,342,24,343,1,344],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/10\/uk-financial-watchdog-says-some-funds-mislead-investors-with-esg-label.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20863"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20863"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/20864"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}