Luxembourg’s financial supervisor CSSF has made clear that it expects investment funds that commit to sustainability objectives will stick to these commitments. If a fund
CSSF says SFDR thresholds imply ‘binding commitments’
Amundi reclassifies ‘almost all’ Article 9 funds to Article 8
Referring to a regulatory environment that is “still evolving”, Amundi, Europe’s largest asset management company, said it has taken a “conservative” step and reclassified almost
Without clear game rules, funds will never get it right
Europe’s asset management industry finds itself under a public magnifying glass after a team of international investigative journalists discovered that the most sustainable funds are still investing in polluting companies. Earlier warnings on possible reputation risks, also from specialists inside the sector, now echo loudly, but so does the observation that a lack of clarity in the current sustainability regulations poses significant challenges, both for the industry and investors.
Efama DG: ‘2022 will be a tough year for fund industry’
European Fund and Asset Management Association Efama will host its 2022 Investment Management Forum on Thursday and Friday in Brussels. Director-general Tanguy Van de Werve
Banks challenge Greenpeace on greenwashing allegations
The latest round of greenwashing allegations targets Luxembourg’s banks and their investment funds. Greenpeace, presenting a mystery shopping survey, now claims Luxembourg’s financial centre is “guilty of greenwashing”. Bank sector group ABBL challenges Greenpeace's approach. Meanwhile, UN secretary-general Antonio Guterres has fiercely condemned private sector behaviour that uses “bogus net-zero pledges”.
At COP27, LuxFlag hosts debate on impact investing
LuxFlag, the Luxembourg Finance Labelling Agency, raised awareness to market challenges faced in the impact investing space at a side event held on Monday at
SFDR Article 6 and 8 funds see substantial outflows in Q3
While the upgrade of SFDR funds is still in full swing, light green funds did not escape this year's market violence. Article 6 and Article
Good practices in ESG reporting: 1 Dec. Benelux Online Debate
Morningstar and Investment Officer Luxembourg invite you to join us online on Thursday 1 December 2020 at 15 CET for the “Good Practices in ESG
Inflows for Impact funds in Q3 as ESG funds bleed
The EU’s top category of sustainable investment funds - impact funds as defined under SFDR Article 9 - saw inflows double in the third quarter compared to the second, while funds that are considered mostly sustainable, or Article 8 ESG funds, continued to bleed, research insights by Morningstar show. The analysis also shows that more than 380 funds were reclassified during the third quarter.
FCA proposes three ESG labels, sets threshold at 90%
The UK's Financial Conduct Authority on Wednesday presented its long-awaited proposal for sustainable investment rules, going a step further than similar rules in the EU and US by suggesting three different sustainability labels for investment funds instead of two. And unlike the EU, the FCA now has proposed a 90% threshold for the most sustainable investment funds.