Open letter: Avoid fossil fuel greenwashing in EU funds
In a joint letter to the European Council and Parliament, 133 signatories call on policymakers to ensure that all EU funds claiming to be “ESG basics,” “transition,” or “sustainable” exclude companies developing new fossil fuel projects. While the Commission proposed exclusions for the “sustainable” and “transition” categories, fossil fuel developers could still appear in the “ESG basics” category. The letter argues that including them would mislead investors, undermine EU climate and energy goals, and risk greenwashing. Signatories urge a full exclusion across all SFDR categories to restore investor trust and align finance with sustainability commitments.
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