Remove 2023 Remove Greenwashing Remove Sustainable Investment
article thumbnail

Switzerland to Address Greenwashing with Sustainable Investment Label Rules

ESG Today

Financial products and funds labelled as ‘sustainable,’ green,’ or ‘ESG’ on Swiss financial markets will be required to align or contribute to specific sustainability goals, with providers required to disclose how they intend to achieve the goals, according to new proposed rules unveiled by the Swiss Federal Council.

article thumbnail

Proposed EU Financial Services Commissioner to Push for Sustainable Investment Product Labels, Reduced Reporting Burdens

ESG Today

In her confirmation hearing on Wednesday, Albuquerque expressed her position that the EU’s Sustainable Finance Disclosure Regulation (SFDR) could more effectively address greenwashing risk with the introduction of a labelling regime that communicated clearly the sustainability attributes of investment products.

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 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

European Regulators Launch Greenwashing Study

ESG Today

Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs) announced today a Call for Evidence on greenwashing, aimed at gathering information on greenwashing risks and practices across the banking, insurance and financial markets sectors.

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

Swiss Government Allows Financial Sector to Self-Regulate Greenwashing Prevention

ESG Today

Switzerland’s Federal Council announced today that it will hold off on regulating greenwashing in the financial sector, allowing instead for the industry to monitor itself, following progress made by the sector’s associations in developing and implementing self-regulatory provisions.

article thumbnail

EU Regulators Call for Increased Action to Address Growing Greenwashing Risk in Financial Sector

ESG Today

Increased supervisory actions and better access to data and other resources will be required to address growing greenwashing risks at banks, investment firms and insurance companies, according to new reports released by Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs).