Friend,

When you invest your hard-earned money, you want to know exactly what you're investing in.

However, many mutual funds marketed as "green" or "sustainable" may not actually be as environmentally friendly as they appear. Now, we have a chance to make sure that investment firms follow through with their commitments to creating sustainable investment opportunities.

The Securities and Exchange Commission (SEC) is considering new rules that would require firms and financial advisers to prove their green investments are taking concrete steps toward a sustainable future, but it needs to hear from you.

The SEC is accepting public comments until Aug. 16. Make your public comment urging it to adopt these new rules today.

Green investing can direct resources to companies committed to creating a sustainable future for our planet, and millions of people have recognized its potential to enact change.

Globally, a record $649 billion was invested in funds that consider environmental, social and governance factors (ESG) in 2021.1 But to have the biggest impact possible, investment firms need to stop falsely advertising their assets. They need to be required to provide more accurate and transparent information for people seeking investments in line with their values.

This is why we need the SEC to step in. Tell the SEC to clamp down on investment fund greenwashing.

For decades, PIRG has worked to protect consumers in the financial marketplace by holding financial institutions accountable and equipping consumers with the information they need to protect themselves.

The new rules the SEC is considering would require 80% of investments to match the description in the fund's name, and they would require firms to define and disclose how they are achieving their sustainability goals.2

Help us make sure investment firms tell you everything you need to make the best decision. Submit your comment before the public comment period closes on Aug. 16.

Thank you,

Faye Park
President

1. Emma Newburger, "SEC unveils rules to prevent misleading claims and enhance disclosures by ESG funds," CNBC, May 25, 2022.
2. Mike Litt, "Statement: U.S. PIRG applauds SEC's newly proposed ESG regulations," U.S. PIRG, May 25, 2022.

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