'Sustainable' funds are no more green than traditional products, study finds
Investment funds that market themselves as sustainable under European rules get similar levels of "green revenues" through the companies they invest in as traditional funds, according to a new study published on March 18, 2022. So-called "green revenue" is the percentage of sales generated from products that benefit the environment such as with cleaner water or contribute to mitigating climate change. Clarity AI, a sustainability data technology platform part-owned by BlackRock, analysed 31,000 funds to assess how they perform against a new European Union classification system that defines a list of environmentally sustainable economic activities. Its research found that just 3.6% of revenues globally are "green".