cross-posted from : https://lemmy.zip/post/59614670

From Brazil’s cattle pastures to Indonesia’s palm oil plantations, so-called green European funds that claim to combat climate change are financing companies involved in deforestation and rising emissions.

These €9B in investments may well come from European customers who are unaware that they are entrusting their savings to portfolios holding companies with a high deforestation risk. A recent report from the Sustainable Finance Observatory shows that while 74% of EU retail investors have sustainability-related objectives, in 57% of advice meetings these preferences were not automatically assessed.