The guidelines issued by the European Securities and Markets Authority (ESMA) have promoted convergence in the use of ‘ESG’ (environmental, social and governance) terminology, by encouraging funds to align their names more closely with their respective investment strategies, ESMA concluded in a report published on Wednesday 17 December.
The study revealed that 64% of funds mentioned in shareholder opinions have changed their name, in most cases to avoid the use of ‘ESG’ terminology....