There are trillions of dollars in sustainable finance and ethical investing, how do we tackle greenwashing? June 11, 2021 The announcement that the government is setting up a new group to help tackle “greenwashing” is good news for everyone. We know ethical investing is booming. Some models have ESG-linked funds outnumbering conventional ones by 2025, and the combination of climate-consciousness, social awareness, and a desire for purpose as well as profit bodes well for [...]
Over half of financial services professionals claim ‘greenwashing’ is rife in the industry, study says May 25, 2021 More than half of financial services professionals believe ‘greenwashing’ is rife within the industry, according to a study released today, as employees fear competitors intentionally inflate their sustainable practices. The study by data agency iResearch Services, which polled 550 decision-makers at financial institutions, also found that 38 per cent believe every business is operating ‘unethically’ [...]
Amanda Gorman and the influencer economy: how social media stars are shunning greenwashing April 17, 2021 Amanda Gorman, the National Poet Laureate in the US, shot to stardom almost overnight after her reading at Joe Biden’s inauguration. Her picture, taken by Annie Leibovitz, was plastered on the May edition of Vogue. The 23-year-old poet told Vogue she was working on projects that “speak to her” and had turned down various collaborations [...]
More Brits believe in aliens than understand ESG: new polling October 11, 2023 THE CITY appears to be losing its battle to explain ‘ESG’ to normal Brits as precious few claim to know what the Square Mile's favourite acronym even means, a new survey has suggested.
EU securities watchdog calls for stricter regulation on greenwashing January 29, 2021 The European Securities and Markets Authority (ESMA) said today EU rules are needed to regulate ratings on the environmental, social and governance (ESG) aspects of companies to avoid investors being deceived by “greenwashing”. Asset managers use ESG ratings to make “green” environmentally conscious investment decisions. Greenwashing refers to inaccurate claims that investments are sustainable and [...]
Exclusive: Greenpeace to target Rugby World Cup fan zones August 30, 2023 Greenpeace is planning to target next month’s Rugby World Cup as the campaigning group ramps up protests against “greenwashing” by oil companies. The organisation told City A.M. it would make its presence felt at the tournament’s official fan zones and outside stadia in France, where the action begins next week. It follows a summer of [...]
HSBC suspected of greenwashing as lawyers urge bank to clean up February 11, 2021 Lawyers for an environmental charity have written to HSBC to remind it of its legal duties with regard to climate risk, as the banks mulls supporting a climate change resolution ahead of its next annual general meeting. The resolution, which was filed by ShareAction last month, called on the bank to take urgent action to [...]
Data: The lifejacket that keeps ESG afloat April 11, 2023 If the year is 1983 and you find yourself in Fiji looking at a notice asking you to reuse your hotel towels for the sake of the environment, then your name is probably Jay Westerveld and you’re about to come up with the term “greenwashing”. Mr. Westerveld was lodging in a beach resort undergoing large, [...]
Letters: The FCA is on the attack October 31, 2022 [Re: FCA poised to clampdown on greenwashing with ‘ESG’ curbs, 25 Oct] The FCA comments on greenwashing shouldn’t come as a surprise: the FCA has been flagging greenwashing as a concern for some time. Moreover, it’s a continuation of the FCA’s work in other areas to ensure that every product ‘does what it says on [...]
FTSE firms ‘woefully inadequate’ at climate risk disclosure, sparking greenwashing fears February 4, 2021 The overwhelming majority of top listed companies in the UK are “woefully inadequate” at disclosing in corporate reporting how climate change will affect their business – with many potentially breaching the law. More than 90 per cent of companies’ financial accounts and associated audit reports made no reference to climate-change related factors, despite UK law [...]