Finance
Sustainable finance
The biggest IPO ever comes with a CCC. Luxembourg's green funds have to answer for it.
SpaceX's record Nasdaq debut is being ushered into the MSCI World even as the same provider hands it the lowest ESG grade on its scale. The clash matters most in Luxembourg, the world's second fund domicile and Europe's largest home for sustainable portfolios, where index trackers and SFDR Article 8 and 9 funds must decide whether to own a CCC-rated stock.