ANALYSIS-Canada's light touch regulation of ESG funds risks 'greenwashing' claims [Reuters]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: Reuters
governance (ESG) credentials despite recent allegations of “greenwashing” elsewhere that have spurred other regulators including the U.S. Securities and Exchange Commission to consider tightening rules. The Canadian Securities Administrators (CSA) issued guidance for ESG funds early this year that simply clarified how existing regulations apply to them. A CSA spokesperson told Reuters this guidance is adequate, but market experts say the lack of firm rules risks eroding confidence in the industry. Canadian responsible equity funds' assets under management grew 24% from a year earlier to C$22.4 billion ($17.3 billion) in May, according to Refinitiv data. Globally, assets in such funds totalled $3.3 trillion. The CSA has acknowledged the growth has increased the potential for “greenwashing,” an overstatement of ESG credentials by businesses or funds. Recent allegations of “greenwashing” at Bank of New York Mellon, Deutsche Bank's DWS Group and Goldman Sachs have prompted greater
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 5/6/24 - Form N-MFP2
- 5/6/24 - Form N-MFP2
- 5/3/24 - Form 10-Q
- BK's page on the SEC website