US SEC investigating Goldman Sachs over ESG funds: WSJ

THE US Securities and Exchange Commission is looking into Goldman Sachs Group’s asset-management division over its funds that look to invest based on environmental, social and governance (ESG) standards, the Wall Street Journal reported.

The investigation is focused on Goldman Sachs’ mutual-funds division, the report said on Friday (Jun 10), citing people familiar with the matter. The firm manages at least 4 funds that have clean-energy or ESG in their names.

Goldman Sachs did not immediately respond to a Reuters request for comment.

The SEC earlier this year proposed a pair of rule changes aimed at stamping out unfounded claims by funds on their ESG credentials, and enforcing more standardisation of such disclosures. REUTERS