TY - UNPB
T1 - Defining Greenwashing
AU - Dumitrescu, A.
AU - Gil-Bazo Javier, null
AU - Zhou, Feng
PY - 2022/5/16
Y1 - 2022/5/16
N2 - We define as a greenwasher a mutual fund that claims to pursue ESG goals, but whose claim is not supported by either portfolio holdings with above-average ESG ratings or by frequent voting support for ESG proposals (above the median support of all ESG funds). Using this definition, 29% of ESG funds in the US engaged in greenwashing during the 2016-2022 period. Greenwashers are more likely to underperform, tend to belong to larger and younger fund families, and are less frequently offered by signatories of the United Nations Principles for Responsible Investment. Investors, especially institutional investors, appear to discern true-ESG funds
AB - We define as a greenwasher a mutual fund that claims to pursue ESG goals, but whose claim is not supported by either portfolio holdings with above-average ESG ratings or by frequent voting support for ESG proposals (above the median support of all ESG funds). Using this definition, 29% of ESG funds in the US engaged in greenwashing during the 2016-2022 period. Greenwashers are more likely to underperform, tend to belong to larger and younger fund families, and are less frequently offered by signatories of the United Nations Principles for Responsible Investment. Investors, especially institutional investors, appear to discern true-ESG funds
UR - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4098411
U2 - 10.2139/ssrn.4098411
DO - 10.2139/ssrn.4098411
M3 - Working paper
T3 - Social Sciences Research Network
BT - Defining Greenwashing
PB - Social Science Research Network (SSRN)
ER -