article thumbnail

Who are the top PR firms greenwashing Big Oil at COP29?

Corporate Knights

Since the start of 2023, these 10 agencies have collectively held at least 91 contracts to burnish the reputations of companies involved in the fossil fuel industry, according to research by DeSmog and Clean Creatives. The Saudi government, which has worked to hinder U.N. Twenty-two employees from the U.S.-based

article thumbnail

European Commission to Withdraw Anti-Greenwashing Regulation

ESG Today

The Commission introduced the directive in March 2023, aimed at addressing a need for reliable and verifiable information for consumers, in light studies finding that more than half of green claims by companies in the EU were vague or misleading, and 40% were completely unsubstantiated.

Insiders

Sign Up for our Newsletter

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

article thumbnail

RBC shareholder resolution confronts greenwashing loopholes in ‘sustainable debt’

Corporate Knights

While linking corporate debt to sustainability targets sounds like a great way of incentivizing companies to make environmental, social and governance (ESG) improvements, a lack of standardized rules has quickly opened the door to greenwashing, with some companies using the funds to continue business as usual with little ESG impact. .

article thumbnail

Australia Court Fines Active Super A$10.5 Million for Greenwashing ESG Investing Claims

ESG Today

million) penalty on superannuation fund Active Super trustee LGSS, after finding that the firm had engaged in greenwashing by continuing to invest in securities in areas that it had claimed to eliminate for environmental or social reasons. It is our third greenwashing court outcome, and we will continue to keep greenwashing in our sights.

article thumbnail

Canada’s new anti-greenwashing rules are not as bad as oil and gas industry says

Corporate Knights

Earlier this month, the Canadian Association of Petroleum Producers publicly criticized the federal government’s new greenwashing rules, saying they “effectively silence” climate discussion, impeding companies from speaking to Canadians about their projects’ green credentials. Iris Fairley-Beam is an independent legal researcher.

article thumbnail

EPP Calls on EU Commission to Scrap Anti-Greenwashing Legislation

ESG Today

The Commission introduced the directive in March 2023, aimed at addressing a need for reliable and verifiable information for consumers, in light studies finding that more than half of green claims by companies in the EU were vague or misleading, and 40% were completely unsubstantiated.

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.