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Lazard, BlackRock sustainable funds caught in Credit Suisse AT1 bond wipeout

Twenty European-domiciled funds billed as green had exposure to contingent convertibles issued by the Swiss bank, despite red flags on governance and climate

By Kristen McGachey
'While some may look dimly on Credit Suisse from an ethical perspective, for others it is simply doing what all other banks do'
'While some may look dimly on Credit Suisse from an ethical perspective, for others it is simply doing what all other banks do' Photo: Getty Images

Green bond funds run by industry giants including Lazard, BlackRock and Franklin Templeton have all been caught out by Credit Suisse's bond wipeout.

Out of 440 fixed income funds domiciled in Europe that had exposure to the bank's Additional Tier 1 bonds, 20 are badged as having sustainability or ESG characteristics, according to data from Morningstar.

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