Funds with sustainability-related terms must invest at least 50% in sustainable assets, as defined by the bloc’s ESG rulebook, and some industries such as controversial weapons are excluded.
BlackRock said it’s notifying investors of changes to well over 100 of its ESG products, as asset managers operating in Europe prepare to comply with new rules restricting what they name funds.
The European Securities and Markets Authority is requiring that funds using terms related to ESG (environmental, social and governance) in their names invest at least 80% in assets that live up to the label.
