Many investors say they lack confidence in being able to select truly ethical investments, amid a crackdown on greenwashing.
Many investors say they are willing to invest ethically but hold concerns over potentially falsified green claims, citing a lack of independent information among their reasons for holding off.
The Australian Securities and Investments Commission has been cracking down on superannuation funds and asset managers Maria Loyez, chief customer officer at Australian Ethical, which co-sponsored the RIAA research, says the report reveals a lack of confidence in identifying truly ethical financial products and this risks causing inertia among potential ESG investors.
“Despite animal cruelty being the top issue for consumers in the report, only 11 per cent of Australia’s superannuation and investment sector is invested in funds that screen out investments in companies that conduct animal testing,” she says.There is some evidence that ESG fatigue may be setting in after many years of strong growth.
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