European asset managers controlling €18.7 trillion warn over 'greenwashing' deadline           

It is latest sign that the Sustainable Finance Disclosure Regulation is continuing to cause anxiety among asset managers

The European Fund and Asset Management Association (Efama) says the industry isn’t being given enough time to correctly label the sustainability of their investment funds.

European asset managers overseeing €18.7 trillion have little hope of meeting a January 1 deadline to correctly label the sustainability of their investment funds, according to the group representing them.

The European Fund and Asset Management Association (Efama) says the industry isn’t being given enough time to adapt to so-called Regulatory Technical Standards, or SFDR, which have yet to be published in full. And in the absence of clear guidance, fund managers may choose to declare that no investment product is sustainable under EU criteria.