SFDR Article 9: Is it all about impact?

Lisa Scheitza and Timo Busch

Finance Research Letters, 2024, vol. 62, issue PA

Abstract: We investigate more than 1,000 investment funds that are classified under Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR). Using the G7’s new typology of sustainable investments, we show that Article 9 funds pursue varying degrees of ambition: while 60 % follow an impact-oriented strategy, we identify 40 % that instead pursue a general Environment, Social, and Governance (ESG) strategy. We do not find significant differences in ESG scores between ESG-related and impact-related funds. Yet, impact-related funds have higher SDG impact scores and higher management fees. Downgraded funds that changed SFDR status, however, tend to be less focused on impact.

Keywords: SFDR; ESG investing; Impact investing (search for similar items in EconPapers)
JEL-codes: G11 G18 G23 M14 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:62:y:2024:i:pa:s1544612324002095

DOI: 10.1016/j.frl.2024.105179

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