Cherry-picking, omission and ambiguity are some of the widespread misleading qualities. Read more at straitstimes.com.
LONDON - Banks, insurers and investment firms across the European Union have made “misleading claims” about their sustainability credentials to investors, EU watchdogs said in progress reports on Thursday to crack down on greenwashing.
“The assessment confirmed that misleading claims may relate to all key aspects of the sustainability profile of a product or an entity such as ESG governance and resources,” the European Securities and Markets Authority said in its report. The European Banking Authority said analysis of greenwashing in the EU since 2012 shows a clear increase in the total number of potential cases across all sectors, including EU banks.
The EU is already cracking down on greenwashing as it finalises mandatory ESG disclosures for companies. Asset managers already have to comply with ESG disclosure requirements.
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