These fake sustainable funds invest in fossil fuel companies such as Eni, Enel, Repsol, Chevron, TotalEnergies, BP and Shell. European regulations allow fund managers to define their own criteria for 'green' investments, leading to greenwashing. While the rules have increased transparency, they also allow funds to be flexible in defining their criteria. Public responsibility for ensuring that investments meet environmental and social criteria is emphasised, shifting the burden of due diligence to investors.
AWARDS:
- This investigation won the 2024 Covering Climate Now Journalism Award in the Fossil Fuels category. The investigation was praised for commendable work covering new fossil fuel development, greenwashing, government lobbying, and dubious schemes to offset emissions, and disinformation.
