In a speech delivered at the Australian Finance Review’s ESG summit on June 5, 2023, the Australian Securities and Investments Commission’s (ASIC) Chair, Joe Longo, warned companies that greenwashing is an ongoing concern for...more
6/27/2023
/ ASIC ,
Australia ,
Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Greenwashing ,
Securities Regulation ,
Sustainability
On May 3, 2023, the European Council adopted its position and commented on a March 22, 2023 proposal to amend EU consumer rules targeting greenwashing. The proposal was submitted by the European Commission in March 2022 as...more
A report released by Dutch environmental advocacy group Changing Markets Foundation has highlighted alleged “greenwashing” in the UK and German food sectors, including via claims such as ‘carbon neutral,’ ‘climate positive,’...more
On March 22, 2023, the European Commission unveiled a proposal, the Green Claims Directive, (Proposal) aimed at combating greenwashing and misleading environmental claims. By virtue of the Proposal, the EC is attempting to...more
3/29/2023
/ Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Claims ,
Environmental Social & Governance (ESG) ,
European Commission ,
Greenwashing ,
Misrepresentation ,
Sustainable Business Practices ,
Unfair or Deceptive Trade Practices
On February 28, 2023, Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), announced that it had commenced “civil penalty proceedings” in federal court against Mercer Superannuation...more
3/9/2023
/ ASIC ,
Australia ,
Corporate Counsel ,
Corporate Governance ,
Corporate Social Responsibility ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Investment Funds ,
Investment Opportunities ,
Misleading Statements ,
Popular
On February 10, the UK’s advertising regulator, the Advertising Standards Authority (ASA), announced the publication of updated guidance for advertisers making environmental sustainability-related claims to consumers,...more
2/23/2023
/ Advertising Standards Authority ,
Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Environmental Claims ,
Environmental Liability ,
Environmental Policies ,
Financial Services Industry ,
Goods or Services ,
Greenwashing ,
Net Zero ,
New Guidance ,
Sustainable Business Practices ,
UK
On January 16, 2023, the European Securities and Markets Authority (ESMA) announced the launch of a common supervisory action (CSA) in partnership with EU Member State national competent authorities (NCAs). The CSA will cover...more
2/13/2023
/ Climate Action Plan ,
Climate Change ,
Consumer Financial Products ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Greenwashing ,
Marketing ,
MiFID II ,
New Guidance ,
Regulatory Agenda ,
Regulatory Requirements