Several labels for sustainable investment funds sponsored by government and nonprofit organizations (GNPOs) have emerged in Europe. This paper examines the coherence of the signals sent by these sustainable labels versus those from the private sector. While some GNPO-labeled funds are perceived...

Several labels for sustainable investment funds have emerged in Europe, providing important cues for investor decision making. Using a dataset of labeled equity and fixed-income funds, this paper examines the coherence of the signals sent by sustainable labels and certifications sponsored by...