"LONDON - Investment funds that market themselves as sustainable under European rules get similar levels of "green revenues" through the companies they invest in as traditional funds, according to a new study published on Thursday.

So-called "green revenue" is the percentage of sales generated from products that benefit the environment such as with cleaner water or contribute to mitigating climate change.

Clarity AI, a sustainability data technology platform part-owned by BlackRock, analysed 31,000 funds to assess how they perform against a new European Union classification system that defines a list of environmentally sustainable economic activities. Its research found that just 3.6% of revenues globally are "green"."

Tommy Reggiori Wilkes reports for Reuters March 17, 2022. [2]