![post image](https://illuminem.b-cdn.net/article/3c5dd37c94be5be64c8329e18a504316f7e46ad5.jpg?width=1920&quality=75)
![source image](https://illuminem.b-cdn.net/author/76b72bf3b2e1ea22ceab489992377abdb963c168.jpg?width=96&quality=75)
Theo Vermaelen
Letter: don’t be misled by the climate change claims of ESG funds
Regulators should protect investors by forcing funds to inform investors that they have no impact on the climate and are likely to get a lower rate of return
![author photo](https://illuminem.b-cdn.net/general/ivprofile.jpg?width=1920&quality=75)
Readers also like
![Lamé Verre](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F5a70ee3310c141cd7b1eb493d38c4dae96b605b5.jpg&w=384&q=75)
Lamé Verre
ESG
![Leon Stille](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F22d5e4e3cdc11e8fd684a92b2b1ccdac1d835eed.jpg&w=384&q=75)
Leon Stille
illuminemX
![illuminem briefings](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F7b0adc1a500670ebde562e2ebca6d252bfb93168.png&w=384&q=75)
illuminem briefings
ESG
![Wim Naudé](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F99630a3861e536b450ba714451690e67dfcd0ed0.jpeg&w=384&q=75)
Wim Naudé
Environmental Sustainability
![Mark Trexler](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F1d0a942181a296ff67cb0d7204dc8ceba6bf1b6d.jpg&w=384&q=75)
Mark Trexler
illuminemX
![Jonathan Gifford](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F0b77b66763f6f6c08228ad38383ec06bbdd10b20.jpg&w=384&q=75)
Jonathan Gifford
Energy
![Ana Luci Grizzi](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F6a7c5aca4ed47413e5d108c31c3852ba8fa7cf48.png&w=384&q=75)
Ana Luci Grizzi
Environmental Sustainability
![Jamie Prow](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F8d2e5b4052da43f524f2d96224fda95c10da8b8d.jpg&w=384&q=75)
Jamie Prow
Environmental Sustainability
![Evelyn Dan Epelle](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F822ec408b2a2c71c93d1c22500104a74d53f13f6.jpg&w=384&q=75)
Evelyn Dan Epelle
Environmental Sustainability
![Jeremy Tamanini](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F180705f8469eaba0f93d76fd09b1bb68b84f3edd.jpeg&w=384&q=75)
Jeremy Tamanini
ESG
![Sebastian Rath](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Fee421f3ab8c1804f8c64252f74ba6fa437082768.jpg&w=384&q=75)
Sebastian Rath
Sustainable Living
![Daniel Bonner](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F318bdbb39f61adb8354774da9fbde91714f1901b.jpg&w=384&q=75)
Daniel Bonner
Sustainable Living
![Joanna Sullivan](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F0fa44b319f65fd25456d4f388e354c6088c9fe80.jpeg&w=384&q=75)
Joanna Sullivan
Ethical Governance
![Markham Heid](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F5284b1b9662090140e1b1580f87eaa58480161ee.jpeg&w=384&q=75)
Markham Heid
Biodiversity
![Paul Sebastien](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F0c0d1fdf86b5e6de4f48791a32413597be2cec1e.jpg&w=384&q=75)
Paul Sebastien
Sustainable Business
![Thiago Machado](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F1543dbbcd434beaa6e01d70d2b7d6c47e312f193.jpg&w=384&q=75)
Thiago Machado
Sustainable Business
Monica Collings
ESG
![illuminem](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F081a98f368664c625c901560e323c31816446599.png&w=384&q=75)
illuminem
Green Tech
![Andrea Gori](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F372fba02dbf55eba9a788443b4e736f5ce1821f2.jpeg&w=384&q=75)
Andrea Gori
Tourism
![Nicolas Vecchioli](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F81e612f06c9fe6da0aa0fed27fb46339a4378348.png&w=384&q=75)
Nicolas Vecchioli
Tourism
![Maria Vittoria Bassetto](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Fa8aca72f17c45bea18f85342045f6af6e06f31ed.jpeg&w=384&q=75)
Maria Vittoria Bassetto
Tourism
![Maria Rugamer](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Fd1d61882f960939aad2a71baab02a96826c5e7be.jpg&w=384&q=75)
Maria Rugamer
Tourism
![Markos Chrysikopoulos](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F0ec61776a8c15e3f6c8b53a83189c8a6382d7ca6.jpeg&w=384&q=75)
Markos Chrysikopoulos
Tourism
![Vilhelmiina Vulli](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Fe9e2b3656305038462e351ad041dd14f1a337a3c.jpg&w=384&q=75)
Vilhelmiina Vulli
Tourism
![Prachi Modi](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Ff897f4f2927a726fefa9e612827cbdd1d86151a9.jpg&w=384&q=75)
Prachi Modi
Tourism
![Andrea Ferrari](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F53b17d700d38f3f21b3fb06ed0e0e0364f964ef7.jpeg&w=384&q=75)
Andrea Ferrari
Tourism
![Kasper Benjamin Reimer Bjørkskov](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2Fd812bbfcdb59f95038d41f9d62115273c56144a3.jpg&w=384&q=75)
Kasper Benjamin Reimer Bjørkskov
Climate Change
![Juliana Aguiar Rodrigues](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F23e2a4c530703f5d78f0453388c1cdf5ed21fe7c.jpg&w=384&q=75)
Juliana Aguiar Rodrigues
Climate Change
![Alex Hong](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F8b9c72baf9b24fac92c16388b722d542a241b99e.jpg&w=384&q=75)
Alex Hong
Environmental Sustainability
![Markus Müller](/_next/image?url=https%3A%2F%2Filluminem.b-cdn.net%2Fauthor%2F2cfb391818e405dfe20b2a610f650a6c88e66627.jpg&w=384&q=75)
Markus Müller
ESG
![dream big picture](https://illuminem.b-cdn.net/general/bivprofile.jpg?width=1920&quality=75)