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New EU regulations for administrators of sustainable funds, or those that invest based on financial, social, or governance (ESG) considerations, went into practice this week. These portfolio managers must also reveal specifics on how they spend. The EU s Sustainable Finance Disclosure Law, or SFDR for short, extends to all asset managers that collect funds in the EU, regardless of where they are based. As a result, the latest rules would have an effect on funds available to US investors.
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Greenwashing
The laws are intended to discourage greenwashing, or the marketing of funds that are merely superficially renewable. Capital managers in the EU must identify their funds as either non-sustainable, having assets with particular environmental or social characteristics, or contributing to a specific environmental or social target, among other things.
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