Anti-greenwash deadline for EU unlikely to be met, say fund managers

Once approved by the EU Commission, RTS will still need to be cleared by Europe’s parliament and council. (File pic shows the EU HQ.)

FRANKFURT: European asset managers overseeing US$22 trillion (RM91.71 trillion) have little hope of meeting a Jan 1 deadline to correctly label the sustainability of their investment funds, according to the group representing them.

The European Fund and Asset Management Association (Efama) said the industry isn’t being given enough time to adapt to so-called Regulatory Technical Standards, which have yet to be published in full.