Overview
Steven Haywood, counsel at law firm McDermott Will & Emery, said:
“It is timely that this has been done in the same week it has been revealed that a major investment manager is being sued by a consumer protection body in connection with alleged greenwashing by one of its ESG funds. In our view, this is likely to be the first of many such cases within the asset management industry which may be brought in the future by both regulators, consumer protection bodies and investors and is reflective of the fact of the inevitable pressure that asset managers have faced from stakeholders and investors over recent years to create ESG focused fund products, which began in Europe in earnest with the introduction of the EU Sustainable Finance Disclosure Regulation.”
