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Esma guidelines on sustainability rules for European funds deemed ‘vague’

Esma’s premises in Paris
Esma’s guidelines say funds with names referring to transition should apply exclusions as set out under the Climate Transition Benchmark, including companies that make controversial weapons and tobacco (Photo: Esma)

The European financial markets regulator’s replacement of the 50% threshold with ‘a commitment to invest meaningfully’ in sustainability elicits confusion

Lawyers have warned that rules agreed by the European Securities and Markets Authority on the use of environmental, social and governance and sustainability-related terminology in the names of European funds could create uncertainty for funds.

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