Remove 2021 Remove Greenwashing Remove Sustainable Investment
article thumbnail

Australia Court Fines Mercer $7.4 Million for Misleading Sustainable Investment Claims

ESG Today

million) penalty for making false claims about some of its sustainable investment options. The ASIC suit formed part of a series of a series of greenwashing-focused actions by the regulator, including cases against superannuation fund Active Super and Vanguard Investments. million ($USD7.4

article thumbnail

UK Regulator to Test Asset Managers’ ESG Claims for Greenwashing

ESG Today

The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, has informed asset managers that it will be testing the ESG and sustainable investing claims made in their communications with investors, as part of its efforts to reduce greenwashing risk.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Australia Court Finds Vanguard Guilty in Greenwashing Suit

ESG Today

The cases follow a warning by ASIC Chair Joseph Longo to providers of investment funds and financial products that the regulator was watching out for misleading sustainability claims, and that it was providing guidance for fund managers and issuers to keep clear of greenwashing.

article thumbnail

European Regulators Slammed for Approach to Greenwashing Probe

Chris Hall

A lack of engagement with key stakeholders and timing of greenwashing investigation among criticisms levelled at European Supervisory Authorities. Enforcement needed to tackle greenwashing Fixler said on LinkedIn that these actions “did more to tackle greenwashing than the entirety of SFDR [EU Sustainable Financial Disclosure Regulation].”

article thumbnail

Australia Court Fines Vanguard Record $12.9 Million Over Misleading Sustainable Investing Claims

ESG Today

The suit by ASIC forms part of a series of greenwashing-focused actions by the regulator, including cases against Marsh McLennan company Mercer Superannuation and superannuation fund Active Super. Greenwashing is a serious threat to the integrity of the Australian financial system, and remains an enforcement priority for ASIC.”

article thumbnail

CFA Institute, PRI, GSIA Issue Harmonized Definitions for Sustainable Investing

ESG Today

According to the organizations, the new resource follows significant growth in recent years in investor interest in ESG issues, driving a proliferation of investment products and practices, but also leading to new terminology that can be unclear or inconsistent.

article thumbnail

Much to Learn for EU Regulators on Greenwashing

Chris Hall

The European supervisory authorities (ESAs) and EU national competent authorities (NCAs) will need to build out their in-house resources and skill sets to effectively identify and handle instances of greenwashing by financial institutions, but greater guidance is recommended by observers rather than new waves of regulation.