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Amid growing demand from clients for sustainable products and a scrutiny on greenwashing, two funds from Perennial Partners have received new certifications from the Responsible Investment Association Australasia.
ASIC has filed a suit against Active Super over greenwashing claims, alleging, among other charges, that the super fund was invested in Russian assets after the invasion of Ukraine while purporting otherwise to members.
Greenwashing is in the sights of regulators with ASIC suing global investment giant Vanguard over its $1 billion ethical bond fund failings.
Investment managers have become increasingly adroit at marketing the environmental, social and corporate governance hygiene of their investments.
Despite claiming to screen out fossil fuels, the fund was invested in Chevron, an oil pipeline in the US and Abu Dhabi, and a petroleum company in Chile.