(Bloomberg) — Goldman Sachs Group Inc. can pay $4 million to settle US regulators’ claims that its asset-management unit didn’t correctly weigh environmental, social and governance elements in a few of its funding merchandise.   

The Securities and Alternate Fee stated that the Goldman Sachs Asset Administration unit “had a number of insurance policies and procedures failures involving the ESG analysis its funding groups used to pick out and monitor securities.” The alleged misconduct occurred from April 2017 to February 2020, the SEC stated in a press release on Tuesday. 

Goldman Sachs Spokeswoman Mary Athridge stated the financial institution is “happy to have resolved this matter, which addressed historic insurance policies and procedures associated to 3 of the Goldman Sachs Asset Administration Basic Fairness group’s funding portfolios.” Goldman Sachs didn’t admit or deny the regulator’s findings. 

–With help from Sridhar Natarajan.