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Archive » April 2025 » The sectoral exposure of sustainable funds: an analysis of the Sfdr labels

The sectoral exposure of sustainable funds: an analysis of the Sfdr labels

Andrea Odille Bosio, Jonathan Taglialatela, Angelo Meda
April 2025 - n. 4
Keywords: Fondi sostenibili, classificazione Sfdr
Jel codes: G11, Q58

Sustainable funds have attracted significant capital inflows over the past decade, but academic research has not identified systematic differences compared to traditional funds. The Sfdr classification represents an innovation, labeling funds based on sustainability criteria. An analysis of 1,795 equity funds suggests that ex article 8 funds have similar allocations to ex article 6 funds, while ex article 9 funds stand out for benchmark-independent choices and a high sector concentration, typical of thematic funds. The study highlights the importance of Esg criteria within investment portfolios and their impact on the diversification and sectoral distribution of sustainable investments, contributing to the ongoing debate on the revision of the Sfdr regulation.

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