The Great Deception of “Green” Investment Funds

Should we prioritize our personal financial interests or the future of the planet? In the realm of green finance, the consumer does not have to choose: he can support the fight against global warming while maximizing “return on investment”. In any case, this is the promise of the American multinational BlackRock, whose “sustainable energy” investment prioritizes energy financing. “clean” and “renewable”all inside Strictly excludes coal, oil and gas companies, which are primarily responsible for greenhouse gas (GHG) emissions.

Verified, not committed: The fund’s three largest assets, €6 billion, are heavyweights in the fossil fuel sector. German energy company RWE AG, American Nextera Energy and Italian Enel SPA only account for 16% of its emissions, and they generate about half of their electricity from coal, gas and oil.

The BlackRock example is not an isolated one. With an investigation in cooperation with dozens of European media, including Investor and Follow the money, the world It found that most financial actors who promise investors to use the savings for the climate are, in fact, still financing polluting companies. Labels and standards change nothing: even “super green” funds are often guilty. Across Europe, almost half (46.3%) of the people we surveyed invest in assets related to fossil fuels or aviation (see our methodology).

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Green funds that operate on fossil fuels

More than half of the investments made in France today fall behind labels that are as attractive as they are vague: “responsible”, “sustainable”, “green” investments…. But our investigation casts a shadow over the category of European funds, known as “Article 9” or “Super Green”, which is supposed to distinguish the best students in the jungle of “green washing” (or green washing, which gives the public a misleading ecological image). . Although the European regulations that define them (known as “Article 9”) require them to finance only sustainable assets, we have identified ten to twenty companies in their portfolios that are responsible for more than a third of global greenhouse gas emissions from the climate. Accountability Institute.

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From Axa to BNP Paribas, via Amundi and Mirova, none of the major “super green” fund managers escape controversy: they all offer at least one investment that doesn’t align with their stated climate goal.