Asset managers have become increasingly jittery about greenwashing over the past 12 months. Regulators have begun to crack down on firms that overstep the mark when it comes to marketing their sustainable investment funds.

Goldman Sachs Asset Management and BNY Mellon’s investment arm have both been on the receiving end of multi-million dollar fines from the US Securities and Exchange Commission for misleading claims over green products and failing to comply with ESG rules.