Tag: greenwashing

FCA confirms anti-greenwashing guidance and proposes extending sustainability framework

Stuart Mitchell

Ahead of the anti-greenwashing rule coming into force on 31 May, the FCA is supporting industry with guidance to help them meet the standard. The new rule is designed to protect consumers by ensuring sustainable products and services they are sold are accurately described. Results from the latest Financial Lives survey shows significant consumer interest in sustainable finance as 81% of adults surveyed would like their investments to do some good as well as provide a financial return. This work supports the long-term growth and competitiveness of the sector by helping businesses…

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RepRisk data shows increase in greenwashing with one in three greenwashing public companies also linked to social washing

Stuart Mitchell

New research from RepRisk, the world’s largest ESG data science company, shows an increase of greenwashing risk, with one in four climate-related ESG risk incidents globally linked to greenwashing. Greenwashing and social washing are often linked, RepRisk’s data shows that nearly one in three public companies linked to greenwashing are also associated with social washing. “The expectation of competitive advantage derived from an image of sustainability has opened the door to green and social washing. A lack of accountability around a rapidly evolving landscape of corporate sustainability has helped keep…

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‘Greenwashing’ crackdown call as just one in 40 UK companies fully adopts ‘gold standard’ net zero targets

Stuart Mitchell

Only one in 40 large UK companies have so far fully adopted the most challenging ‘gold standard’ targets for setting a course to net zero, a report by the IPPR think tank reveals, putting at risk ambitions for the UK to become a global centre for green finance.  One in 20 have signed up in principle for the new ‘science-based targets initiative’ (SBTi) aimed at measuring companies’ progress, but have not actually set their targets, the report says. A further 151 small or medium enterprises (SMEs) have signed up and…

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Greenwashing growing increasingly sophisticated, says Planet Tracker

Stuart Mitchell

Corporate greenwashing involves a company enhancing – or fabricating – the environmental impact of its services and products. According to the latest report by financial think tank Planet Tracker, The Greenwashing Hydra, this practice has become increasingly sophisticated, taking many different forms. Greenwashing activities range from seemingly innocuous strategies that market a product inaccurately, to practices that emphasise a singular green activity to intentionally distract from broader damaging environmental policies. In the report, Planet Tracker identifies six types of greenwashing: Greencrowding is built on the belief that you can hide…

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Half of UK marketers fear ‘greenwashing’ despite consumers wanting more insight into companies’ sustainability agendas

Stuart Mitchell

New research from the Chartered Institute of Marketing (CIM) reveals that half (49%) of marketers are weary of working on sustainability marketing campaigns due to the fear of their company or clients being accused of ‘greenwashing’. It comes as new regulations, such as the Competition and Markets Authority’s ‘Green Claims Code’, are introduced to hold brands more accountable for their sustainability claims. The survey, which looks at the views of over 200 marketing professionals in the UK, shows that over half (55%) of marketers’ companies and clients recognise sustainability as…

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