Fund managers say EU anti-greenwashing deadline unlikely to be met

European asset managers overseeing USD 22 trn 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) says the industry isn't being given enough time to adapt to so-called Regulatory Technical Standards, which have yet to be published in full. And in the absence of clear guidance, fund managers may choose to declare that no investment product is sustainable under EU criteria.

"The only proportion that we could disclose is zero," Dominik Hatiar, regulatory policy adviser for sustainable finance at EFAMA, said in an interview. "That would be the safest approach." 

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