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The Wild West of plastic credits and offsets

GreenBiz

There is no industry standard or definition . However, there is no formal or standardized definition for plastics crediting, and such claims are inconsistently defined and applied differently from organization to organization. The potential for greenwashing is high. Pull Quote. Circular Economy. Plastic Waste.

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India Releases Draft Climate Finance Taxonomy to Drive Capital to Net Zero Goals

ESG Today

Indias Ministry of Finance announced the release of a draft framework for its Climate Finance Taxonomy, its classification system for identifying sustainable economic activities aligned with its climate goals, aimed at enabling the facilitation of major capital flows required to support the net zero transition, while preventing greenwashing.

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

ESG Today

The guidance was developed in response to a set of sustainability-related investment and finance recommendations published in 2021 by IOSCO , the leading international policy forum and standards setter for securities regulators, which included developing common terminology for sustainable finance terms and ESG approaches.

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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.

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EU Regulators Find Growing Greenwashing Risk for Banks, Asset Managers

ESG Today

Key sources of greenwashing risk identified by the regulators included claims about sustainability impact and company engagement made by asset managers, litigation risk related to misleading ESG claims made by banks, and misleading product claims by pension and insurance providers.

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Austrian Airlines Found Guilty in Greenwashing Case over Carbon Neutral Flight Claims

ESG Today

The greenwashing case was brought by Austria’s Association for Consumer Information (VKI). But promoting flights as CO2-neutral when this is not technically possible and it cannot even be ensured that sustainable aviation fuel is used in the specific flight is definitely going too far. between Vienna and Venice.

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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].”