ESG

BlackRock, LGIM and DWS sustainable passive funds exposed to fossil fuels

Analysis of sustainable passive funds by Reclaim Finance finds hundreds exposed to oil giants and coal producers

Investors in sustainable funds are being exposed to oil and gas developers, according to new research
Investors in sustainable funds are being exposed to oil and gas developers, according to new research Photo: Gaby Oraa/Bloomberg via Getty Images

BlackRock, DWS and Legal & General Investment Management are including investments in fossil fuel developers in passive funds branded as sustainable, according to new analysis.

Reclaim Finance analysed 430 funds badged as sustainable at five of the biggest passive firms, which also included UBS Asset Management and Amundi.

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