It's the latest headache to descend on the market for ESG investing.
The move is part of an overhaul of the research firm's methodology for rating ESG funds.
Chat Reynders's long-held view on banks is starting to resonate with other ESG fund managers.
Are the goals of climate activists compatible with low-cost, agnostic index investing?
Vanguard is walking out of the world's largest climate-finance alliance.
The fund class in question is called Article 9, Europe's top ESG disclosure designation.
Increased regulatory scrutiny has slowed down the fund industry's use of the ESG label.
Of the 348 funds singled out by the state, 14% don't qualify as ESG, Morningstar says.
Over five years, ESG gained 73%, while fossil-fuel produces added 57%.
The finance industry is arguing that Republican are putting the financial security of U.S. savers in serious jeopardy.
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