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Hong Kong Launches Taxonomy to Classify Green Activities and Investments

ESG Today

The launch marks the latest in a series of initiatives across jurisdictions to set up a classification system for the definition of sustainable economic activities, including taxonomy systems already established or in development in the EU , UK and Australia.

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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

The new guidelines detail the process and definitions behind the oil and gas subsidy phaseout. The definition covers initiatives that support fossil fuel consumption or activities, and funding that disproportionately benefits the fossil fuel sector.

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Greenwashing Risk Grows in China ESG Funds

Chris Hall

Greenwashing is a growing risk in the Chinese fund management sector, as marketing of ESG products runs ahead of standards and regulatory oversight, a new report by Greenpeace has found. China falls behind Greenwashing has emerged as a major problem in developed countries over the last decade with the rise of ESG-labelled funds.

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Greenwashing Managers Must Heed Watchdogs’ Bark

Chris Hall

Asset managers should expect and prepare to be challenged on the sustainability credentials of their ESG-labelled funds as financial markets watchdogs clamp down on greenwashing, according to regulatory experts. . Growing concerns over greenwashing and mislabelling were highlighted in a 2021 report published by think tank InfluenceMap. .

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ESG Explainer: SFDR One Year on

Chris Hall

European efforts to bring transparency to ESG funds haven’t addressed fears of greenwashing. Different approaches to product classification have sown confusion and raised greenwashing concerns among both institutional and retail investors. While SFDR was designed to avoid greenwashing, it has not achieved its objective.

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All That Glitters Is Not Green

Chris Hall

Regulation will never be sufficient to protect investors from greenwashing, says Alexandra Mihailescu Cichon, EVP at RepRisk. While this is to be encouraged as a step toward the transition to a more sustainable future, focused around lower-carbon economies, this same pressure has also led to an uptick in greenwashing.

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Banks Must Radically Change Climate Perspective

Chris Hall

Additional analysis from the ECB covering 95 banks suggested that 90% of them were exposed to climate transition risks. Golden ratio Meanwhile, North American banks are under mounting pressure from US shareholders to transition away from financing fossil fuels.

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