The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.
ESG/Social Responsibility
Posted inAccounting & Auditing
Treasury, other agencies issue voluntary carbon market principles
The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.
Posted inEurope
ESMA guidelines tackle greenwashing via fund names
The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
Posted inRisk Management
Fed-led climate scenario analysis highlights data gaps, insurance costs
The Federal Reserve Board and six large American banks released the results of a pilot climate scenario analysis that explored how resilient the banks’ business models were to climate-related financial risks.
Posted inRegulatory Enforcement
Lululemon facing probe in Canada over greenwashing complaints
Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.
Posted inEurope
EU charts green path forward with ECT withdrawal, new regs
The impending decision by the European Parliament to withdraw from the international Energy Charter Treaty and adopt further climate rules sets a clear direction for green regulations in the region.
Posted inEurope
FCA publishes guidance on anti-greenwashing rule
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
Posted inAccounting & Auditing
Report: Poor awareness of supply chain disclosure regs leaving firms exposed
Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.
Posted inEthics & Culture
U.S. senator calls for Temu ban over forced labor, privacy concerns
Sen. Tom Cotton (R-Ark.) is calling on the Biden administration to investigate and ban Chinese e-commerce company Temu over forced labor and data privacy violation concerns.
Posted inEthics & Culture
ECHR ruling opens door to climate change litigation on basis of human rights
By holding the Swiss government accountable for failing to do more to limit climate change, a ruling by the European Court of Human Rights might have significant implications for legislators and organizations in other countries across the European Union.
