Ethical finance or knock-off finance?

Ethical finance, once moral criteria are removed, can be assimilated to sustainable finance defined by taking into account extra-financial criteria: Environmental, Social and Governance. Since priority is given to climate issues, the environmental criterion is favoured, but given the differences in definition between regulators and “labellers”, the scope for “greenwashing” is not negligible. Should and can greenwashing strategies be supplemented by more coercive measures? Should and can financing and investments be forced to be ethical (including nuclear and arms) and how? Furthermore, can financing that respects one or more environmental criteria while neglecting social criteria be qualified as ethical? Does satisfying a few criteria allow, on average, the actors of the financial sphere (including savers) to consider that finance has finally become ethical? At what “price” can extra-financial criteria be imposed in the face of the sacrosanct criterion of short-term profitability?