EU: Market correction that hit ESG funds isn’t over

McGuinness: That is self-correcting, which is a good thing. And I think you are going to see more of that. — AFP

BRUSSELS: The correction that’s upended Europe’s environmental, social and governance (ESG) fund market since the middle of last year has yet to fully play out as the industry reacts to the risk of greenwashing allegations, says Mairead McGuinness.

“That is self-correcting, which is a good thing,” the European Union’s (EU) commissioner for financial markets and services, said in an interview here.