Supposedly green funds have invested more money in fossil fuel companies after the start of Russia’s war of aggression against Ukraine.
(Photo: Reuters)
Berlin, Dusseldorf The Russian invasion of Ukraine apparently motivated financial managers to invest more in fossil fuels, even though their funds are offered to customers as particularly sustainable or ecological. This is the result of a study by the non-governmental organization (NGO) Finanzwende from Berlin.
According to this, after February 24, 2022, supposedly sustainable funds bought shares from the fossil energy generation segment for around 940 million US dollars. At the same time, they only invested 138 million US dollars in companies whose business models are based on renewable energies.
The data shows that green fund investments continue to deviate from what consumers imagine a green investment to be, write Finanzwende analysts Alison Schultz and Magdalena Senn. The citizens’ movement of the same name around the former Greens member of the Bundestag Gerhard Schick is committed to sustainable finance.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Further
Read on now
Get access to this and every other article in the
Web and in our app — 4 weeks for €1.
Further