Guidolin, Massimo; Magnani, Monia - In: Risks : open access journal 12 (2024) 2, pp. 1-26
We investigate the occurrence of greenwashing in the US mutual fund industry. Using panel regression methods, we test … reject the hypothesis of widespread greenwashing. ESG funds, on average, invest more in companies with higher ESG ratings and … avoid sin stocks more than non-ESG funds. Nonetheless, we obtain evidence that some degree of greenwashing may still be …