Drax’s renewable status under threat as Ofgem probes greenwashing claims April 6, 2023 Drax is at risk of losing billions of pounds in government funding as Ofgem starts reviewing greenwashing claims linked to the sustainability credentials of its biomass projects.
Funds struggle to sell sustainability as greenwashing spreads November 1, 2022 Fund managers are struggling to sell their green investment products to financial advisers as rampant greenwashing erodes trust in the environmental, social and governance (ESG) industry, fresh research has
Greenwashing a ‘systemic problem’ at UK banks September 13, 2022 Greenwashing is a ‘systemic problem’ at UK banks despite all of them claiming sustainability is at the heart of their business, a survey released today reveals. Only 59 per cent of lenders are measuring their carbon footprint, according to a survey of 150 UK banking executives by technology firm Mobiquity. The survey also found all [...]
FCA poised to clampdown on greenwashing with ‘ESG’ curbs October 25, 2022 The UK’s City watchdog has announced a landmark set of measures to police how firms use terms like ‘ESG’ and ‘green’ today as it looks to stamp out rampant greenwashing in the City.
Watchdog raises ‘greenwashing’ concerns over sustainable loans – but experts question need for ‘hard laws’ June 30, 2023 The Financial Conduct Authority (FCA) has highlighted a number of issues in sustainable lending which are stymying the growth of the market. In a letter sent yesterday to sustainability heads at banks, the watchdog noted that the market for sustainability-linked loans (SLLs) – which link borrowing costs to sustainability targets – had “grown rapidly” over [...]
Don’t trust every “recyclable” logo you see: greenwashing is rife in construction too June 8, 2023 If you think greenwashing is limited to retail or fashion, think again. It's rampant in the construction industry. So buying the right materials requires a lot of diligence, writes Victoria Brocklesby
Car firms push back against greenwashing allegations September 29, 2022 Car manufacturers have pushed back against allegations they are underreporting the indirect lifetime emissions of their vehicles. A report by European environmental NGO Transport & Environment (T&E) has accused nine of the world’s largest car makers – including Volkswagen, Toyota and BMW – of downplaying the indirect lifetime emissions of their vehicles by, on average, [...]
FCA’s new sustainability rules to establish UK as world leader on anti-greenwashing January 25, 2023 Industry figures today claimed the UK was set to become a global leader in the fight against so-called greenwashing after the conclusion of a consultation by the financial regulator. The new rules aim to clamp down on greenwashing, when firms make exaggerated or misleading claims about the environmental credentials of their investment products. The Financial [...]
Top UK investment body slams FCA for moving too fast on greenwashing rules February 22, 2023 A top investment body has slammed the UK’s financial services regulator for moving too fast on environmental, social and governance (ESG) rules today, claiming it risked “dislocating” a major section of the sector. Officials at the Financial Conduct Authority (FCA) announced plans in October to clampdown on the labelling of ESG financial products in a [...]
ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]