The SEC wants to prevent ESG funds from greenwashing. This comes just after Tesla was removed from the S&P 500 ESG Index
SEC Wants To Prevent ESG Funds From Greenwashing Following Tesla’s Removal From The S&P 500 ESG IndexThe U.S. Securities and Exchange Commission wants to prevent ESG funds from greenwashing. The SEC published a fact sheet with amendments calling for funds toThis news comes after Tesla wasfrom the S&P 500 ESG Index.
The SEC added that the rules and form amendments would enhance disclosure by the following three things: Generally requiring certain environmentally focused funds to disclose the greenhouse gas emissions associated with their portfolio investments. The SEC added that advisors who consider ESG factors would be required to “make generally similar disclosures in their brochures with respect to their consideration of ESG factors in the significant investment strategies or methods of analysis they pursue and report certain ESG information in their annual filings with the Commission.”The SEC wants particular ESG-focused funds to provide additional information about their strategies.
If Exxon and other companies had to produce their GHG impact, I doubt they would be included in an ESG fund — at least, without massive amounts of greenwashing.
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