U.S. SEC Investigates Goldman Sachs Over ESG Funds, Says Report
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by KnowESG,
Goldman Sachs Group Inc
The Securities and Exchange Commission is investigating Goldman Sachs Group Inc.'s asset management division for its funds that look to invest under environmental, social, and governance (ESG) principles.
According to the report, which cited people familiar with the situation, the inquiry is focused on Goldman Sachs' mutual-funds branch. At least four funds managed by the company have clean energy or ESG in their names.
Goldman Sachs did not immediately respond to a request for comment.
The Securities and Exchange Commission (SEC) proposed a pair of rule amendments earlier this year aimed at preventing funds from making unsubstantiated claims about their ESG credentials and requiring more consistency of such disclosures.
Source: Reuters
