Regulator shines light on ethical super funds
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The corporate regulator is probing the practice of “greenwashing” by superannuation and managed funds that can mislead investors as to their commitment to environmental, social and corporate governance (ESG) practices.
The Australian Securities and Investments Commission (ASIC) is investigating whether the ethical investments offered by the funds are as “green,” or ESG focused, as claimed.
Credit:Karl Hilzinger
ASIC commissioner Cathie Armour says there is growing unease about the risks of “greenwashing” of financial products, partly driven by a lack of clarity about labelling of investment portfolios.