Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Ostateczny raport - Wytyczne dotyczące nazw funduszy wykorzystujących terminy związane z ESG lub zrównoważonym rozwojem

14 May 2024

ESMA34-472-440

Final Report - Guidelines on funds’ names using ESG or sustainability-related terms

In recent years, investor demand for investment funds that incorporate environmental, social and governance (ESG) factors has been growing sharply and it is expected to continue growing in the future. Competitive market pressures create incentives for asset managers to include terminology in their funds’ names designed to attract investor assets. This increasing demand has led to concerns in ESMA. Misleading sustainability disclosures may give rise to risk of „greenwashing”. This is particularly relevant if funds are named as green or socially sustainable, when sufficient sustainability standards commensurate with that name have not been met. Against this background, ESMA consulted in November 2022 on guidelines for investment funds using ESG or sustainability-related terms in their names (ESMA34-472-373 ).

The initiative followed a supervisory briefing on sustainability risks...