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Turning COP into a venue for greenwashing Oil and gas did not show up to the COP party uninvited. They are granted pavilions, theyre given official space for their greenwashing. RELATED Who are the top PR firms greenwashing Big Oil at COP29? As former U.S. Now there are growing calls to wrest control back. Shes changed her mind.
nergir, for example, has sponsored a Quebec school program since 2016, encouraging children and families to commit to reducing their carbon footprint and then sell their reductions to other participants as carbon credits.
The US SIF says this more cautious approach was at least partly triggered by recent US Securities and Exchange Commission (SEC) proposals to crack down on greenwashing by ramping up standards on the names and disclosure requirements for ESG funds. trillion in 2016. Europe, Canada, Australia and Japan grew to US$35.3
In response to accusations of greenwashing and growing regulatory scrutiny, a group of high-powered financial networks is working to standardize the often-opaque jargon of the responsible investing industry. The value of global sustainable investment assets jumped from US$23 trillion in 2016 to US$35 trillion in 2020. In the U.S.,
Cancelling oil industry greenwash There’s a growing consensus that the PR companies involved in greenwashed campaigns need to be held to account. Subtly, the onus of carbon reduction was shifted from the company onto the consumer. As climate awareness grew, Big Oil’s advertising budgets exploded.
Since methane breaks down in the atmosphere much sooner than carbon dioxide, which will warm the planet for centuries, an additional metric known as GWP* was proposed by Oxford University scientists in 2016 that factors in methane’s potent short-term impacts, taking 2016 methane emissions as baseline.
Rising levels of sustainability-focused regulation and investor scrutiny have contributed to a decline in greenwashing activities by companies. A new report from date science firm RepRisk highlighted a 12% year-on-year decrease in companies linked to greenwashing – marking the first fall in six years.
In 2016, the International Civil Aviation Organization (ICAO), a U.N. United Airlines began buying SAF in 2013, and in 2016 became the first airline to use SAF on a continuous basis. But offsetting is seen as transitional — and controversial: Some critics view it as greenwash. Airlines, for their part, are getting on board.
along with ongoing corporate greenwashing and fossil-fuel disinformation, it’s sometimes hard to tell if society is moving forward or slipping back. Between July 1, 2016, and January 15, 2024, Clean200 companies generated a total return of 103.5%. You follow the money, of course. through those years. through those years. dollars.
The country has had six presidents and several overhauls of congress since 2016. Some critics of the debt-for-nature and debt-for-climate concept — which was first introduced in the 1980s — warned that combining debt-related issues and climate initiatives isn’t always the right solution for some countries and could lead to “greenwashing.”
Its growth has escalated since 2016, as the demand for carbon credits by private actors outside of regulated regimes continues to rise. This disconnect between offsetting and real-world impact has led to many organizations receiving PR blowback, accusations of greenwashing, and even lawsuits for achieving less carbon impact than they report.
Further, a lack of transparency around why a fund has been re-labelled as sustainable and the impact the new label has on the fund’s environmental-related characteristics or performance can ignite greenwashing concerns. The first strategy Ossiam switched to sustainable was the Ossiam Minimum Variance strategy in 2016, says Lacroix.
I started this business in 2016 after leaving my role as senior editor at Fortune , and many people questioned my decision to leave an established publication to create my own. But I wanted to really dig into the issues that would arise when we added computing to everything, be it technological or social. I love technology.
Greenwashing harms brand value and can undermine credibility, creating scepticism around recycled content claims. The Australian Competition & Consumer Commission (ACCC) has prioritised greenwashing as a significant compliance priority. Minimising the consumption of virgin resources can save water and energy and reduce pollution.
In fact, ESG investing grew 143% between 2016 and 2020. Regulations are aimed at a number of outcomes: Reducing corporate greenwashing and creating transparency around corporate sustainability activities. A quarter of all sustainable investing is through ESG integrated funds , far outpacing all other sustainable investment strategies.
billion of the total – three times the 2016 level. The number of exchanges offering green bonds has increased from eight in 2016 to 34 in 2023, with a number listing a range of labelled bonds including social, sustainability-linked , green sukuk and gender-linked bonds. Importantly, adaptation finance accounted for US$32.4
Some key statistics: There was a 71% increase in Google searches for sustainable goods between 2016 and 2021, according to WWF. For example, since 2016, WWF found a 45% increase in food, cosmetic, and natural pharmaceutical companies that have committed to protecting biodiversity in their sourcing practices.
According to figures published by The Global Sustainable Investment Alliance in 2021, Japan’s total sustainably invested assets stood at US$42,874 billion in 2020, representing a more than fivefold increase from 2016. Adequate disclosure is critical if the ESG funds are to avoid “being ridiculed as “greenwashing”, it said.
Poland and France were the first governments to issue green bonds in 2016 and 2017 respectively. Labelled bonds can stand accused of ‘greenwashing’ if a robust sustainable framework is not in place. We expect more countries to follow. Rapid growth in GSSS issuance doesn’t come without challenges for investors.
Lemonade took the first route and decided to go public in 2020, having gained certification in 2016. In the race to attract these sustainable shoppers, empty slogans and greenwashing campaigns are no longer viable options to draw an informed public. Since going public, the insurance revolutionary has seen its revenue continue to grow.
There’s a lot of talk about greenwashing with all of these financial institutions pledging to meet net-zero by 2050 … I am working to get financial institutions to actually take action on their net-zero commitments.” that works to phase out global coal power generation.
According to van der Heijden, AI covers the “full gamut” of current ESG teams’ workload, adding that companies “sitting on their hands” with regards to AI adoption risk being “left behind”. Briink develops generative AI technology solutions for ESG teams, primarily within the asset management industry.
And a 2021 report from The Economist found that global online searches for sustainable goods had increased by 71% between 2016 and 2020. However, despite this positive shift in consumer investment choices, a considerable portion of these ETFs are blatant greenwashing and lack meaningful environmental impact.
In 2016 he founded Sustainix, an independent research and analytics consultancy aimed at advising and supporting financial services companies in incorporating climate conscious and sustainable investment principles in their investment and engagement practices.
In 2016 the earth’s average temperature was the warmest since recordkeeping began in 1880. This has fueled confusion and accusations of greenwashing. That record was matched in 2020. The scientific community holds strongly recommends that the average global temperature increase must be limited to increase be limited to 1.5 °C
At the same time, the credibility of their climate strategies has been brought into question both by greenwashing scandals and recent analyses of the Paris-alignment of fund offerings. . European banks have financed upstream oil and gas expansion by more than US$400 billion since 2016, ShareAction research has found.
In 2016, after many years of hard work, we got something known as the Kigali Amendment to the Montreal Protocol, which essentially means every country in the world signed onto this amendment to the Montreal Protocol. That allows us as a society to figure out solutions because as we it is challenging.
In the latter part of 2016, Ethan Steinberg and two of his friends planned a driving tour across the United States to interview farmers. This story originally appeared in Mongabay and is republished here as part of Covering Climate Now, a global journalistic collaboration to strengthen coverage of the climate story. What is agroforestry?"
COP27 also saw the first fruits of UN Secretary General Antonio Guterres’ efforts to rid the finance and corporate sectors of greenwashing through increased scrutiny of net zero commitments. Announced by Guterres in Glasgow, the UN High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities?
The arrival of a strong El Niño , which the planet hadn’t seen since 2016, the previous record-holder for hottest year. The trend of greenhushing has emerged as governments from California to the European Union are crafting regulations to counter false advertising around sustainability (often called “greenwashing”).
Net-zero campaigns also spur well-intentioned, yet harmful, investments in greenwashed technologies , such as carbon capture tech, which are fossil-fuel and energy intensive and emit more carbon than they take away , undermining the central premise of net-zero. This summer’s West Virginia v. There are many groups leading this work.
Worst sort of greenwashing One aspect, she says, is highlighted by drawing a dividing line between the oil and gas industry on the one hand and other sectors that have lobbied on climate action issues, such as steel, chemicals and cars. Oil and gas overplayed their hand,” she says. This COP has put us in an interesting place.”
A different approach Wold Nilsen created Storebrand’s ESG Plus climate fund range strategy in 2016. Yet everyone wants a proof statement so that investors, asset owners and producers of funds can all say that they are Paris aligned in their annual report and can’t be accused of greenwashing,” he added.
Since the Paris Agreement, Canadian bank investments in fossil fuels havent significantly changed, Brooks notes, with the Big Five banks funnelling nearly $1 trillion into the industry between 2016 and 2023, according to Stand.earth. Slow-walking on climate action is really the new climate denialism, he says.
As revealed by the Mueller Report, Russian disinformation played a prominent role in helping to elect the disgraced former president in 2016. Putin has been silencing critics including environmental activists for years. Russian journalist Mikhail Beketov was murdered for reporting on environmental destruction.
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