U.S. SEC investigating Goldman Sachs over ESG funds
(Reuters] – U.S. Securities and Exchange Commission are investigating Goldman Sachs Group According to the Wall Street Journal, Inc (NYSE:),’s asset-management department over its funds which seek to invest according environmental, social, and governance (ESG), reports The Wall Street Journal.
According to a report, Goldman Sachs mutual-funds unit is the focus of the investigation, according to people who are familiar with the matter. There are at most four funds managed by the company that include clean-energy and ESG names.
Goldman Sachs has not yet responded to a Reuters inquiry for comment.
An earlier proposal by the SEC to amend its rules was made this year. These changes were aimed at removing unfounded claims from funds regarding their ESG credentials and increasing standardization in disclosures.