Japan to take action against greenwashing of funds

Japan to take action against greenwashing of funds

Hideki Takada, director at the Financial Services Agency, said in an interview that Japan suspects a number of cases of greenwashing by asset managers related to environmental, social and governance ESG issues and will take regulatory action against malicious cases.

After a review by the $9 billion 1.18 trillion Mizuho Financial fund that didn't give investors enough information about its environmental impact, the FSA has set new limits on which funds can label themselves ESG. The new rules address concerns about mislabeling by some financial services firms that are pitching funds focused on ESG issues, Takada said.

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