Epsor, a specialist in employee savings and retirement, has analyzed 814 investment funds in order to identify those that best meet environmental challenges. Bad news for savers, the study shows that few of these funds are really involved in the ecological transition.
Are responsible investment funds really green? Epsor, a company specializing in employee savings, has just gone through a sieve 814 equity funds. And the results of his study published in mid-May raise questions. It thus emerges that 53% of the companies invested are shared between the labeled funds, i.e. greened thanks to the certifications SRI (Socially Responsible Investment), Finansol or other label Greenfin, and non-labelled funds. While some of these companies are recognized for their commitment (Schneider-Electric for his activity or LVMH for its CSR policy) and are favored by all types of funds, the presence of other companies that make up both labeled funds and non-labelled funds raises questions. Thereby, TotalEnergies is found in 19% of labeled funds and 20% of non-certified ones!
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Labeled funds invest 27% less in fossil fuels than non-labelled funds. But it remains that 80% of labeled funds of the study have at least one company in their portfolio linked to this controversial sector, specify the authors of the survey. Result, barely 10% of the funds scrutinized are effectively engaged in the ecological transition. Overall, it appears that the carbon footprint of labeled funds is 18% lower than that of funds that do not have label certification.
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The limits of the SRI label
In support of these figures, Julien Niquet, president of Epsor, observes that the SRI label is a necessary prerequisite in a process of responsibility, but his methodology is still too permissive given the current challenges. It’s necessary make responsible investment more readable and accessible. It is urgent and essential that the public authorities provide a better framework for responsible savings standards in order to guarantee the interests of savers, respond to the challenges posed by the ecological crisis, and avoid greenwashing. Finally, this approach must be accompanied by better information for savers on responsible finance and labels, which are still too little known to the general public, specifies the president of Epsor.
Indeed, then less than 10% of savers invest part of their savings in labeled funds. However, nearly 6 out of 10 consider the environmental and social impacts of financial products to be important.
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Coincidentally, the European Central Bank has also just made it known that it is concerned about greenwashing risks for financial stability and proposes the establishment of common standards for green finance.
For the president of Epsor, a saver attached to a positive impact of his investments should therefore combine funds that are both labeled and labeled Section 9, a new classification whose sustainable investment criteria are much more demanding. The so-called Article 9 funds thus have a share of investment in companies involved in green solutions that is 50% greater than other funds, finds the Epsor study.
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