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ESG funds accused of greenwashing billions in coal, oil and gas bonds

Workers loading coal on to a dumper.
Photo: Getty Images

Martina Lindberg

2 min read
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New analysis finds financial returns for investors are taking primacy over protecting the climate.

Over $1.5bn in “Environmental, Social and Governance” (ESG) funds has been invested in the bonds of major coal, oil and gas companies, according to a new analysis by the progressive think tank Common Wealth.

As of April 2023, the three top global asset management firms BlackRock, State Street, and Legal

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