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We need to talk about Greenwashing in projects. Among them is one thats critical in todays world: green claims and greenwashing. In the GPM P5 Standard for Sustainability in Project Management, we provide prescriptive guidance on 49 sustainability topics. Thought Leadership on Sustainability and Project Management.
Claims about the future of renewable gas will be tested in Federal Court after the competition regulator launched its biggest greenwashing lawsuit to date. The post ACCC sues gas company, saying its “love gas” campaign amounts to greenwashing appeared first on RenewEconomy.
Environmental projects will be analysed and rated in Australia in a move experts say could prevent greenwashing and encourage international investments. The post Australian net-zero projects to be rated to prevent greenwashing appeared first on RenewEconomy.
The post Who are the top PR firms greenwashing Big Oil at COP29? This article was first published on DeSmog. It has been edited to conform with Corporate Knights style. Read the original story here. appeared first on Corporate Knights.
With input from KPMG legal specialists in 24 jurisdictions around the world, this report also aims to illustrate the ways these jurisdictions tackle greenwashing, from specific regulatory measures to general regulations and jurisdictional greenwashing cases.
Canada’s Competition Bureau announced the release of its final guidelines on environmental claims, aimed at helping companies to comply with new anti-greenwashing laws when making claims about the environmental benefits or attributes of products or businesses.
The top nonfinancial data problems reported by finance leaders include varying data formats, cited by 39%, data inconsistencies (35%), incomplete data (34%) and unclear data definitions (33%).
We have neither the time nor the patience for more scams or games of smoke and mirrors like your greenwashing fund. Pacific Climate Warrior Joseph Zane Sikulu, from the low-lying islands of Tonga, calls it greenwash. “We The family has stayed in power by suppressing dissent, restricting press freedom and limiting civil liberties.
The Green Claims Directive, a new proposed regulation aimed at protecting consumers from greenwashing claims about the environmental attributes of products and services, has not been withdrawn by the European Commission, according to a statement provided by a Commission spokesperson to ESG Today.
EU markets regulator the European Securities and Markets Authority (ESMA) announced the release of a new thematic note aimed at guiding market participants including issuers and fund managers on its expectations for sustainability-related claims, and avoiding greenwashing risks in investor communications.
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.
Turning COP into a venue for greenwashing Oil and gas did not show up to the COP party uninvited. They are granted pavilions, theyre given official space for their greenwashing. RELATED Who are the top PR firms greenwashing Big Oil at COP29? As former U.S. Now there are growing calls to wrest control back.
Following a question about the Commission’s plans for the directive at a press conference, Commission spokesperson Maciej Berestecki said: “I can say that in the current context, indeed the Commission intends to withdraw the Green Claims proposal.”
According to the survey, for example, 85% of investors report that greenwashing and similar misleading statements about company sustainability performance is a greater problem than it was 5 years ago.
Greenwashing: Misleading Corporate Sustainability Claims Greenwashing occurs when companies use eco-friendly buzzwords, visuals or vague claims to appear more sustainable than they truly are. Every corporate decision, whether regarding logistics, sourcing or packaging, contributes to the larger environmental picture.
This week in ESG news: Mars launches $250 million sustainability solutions fund, ties exec compensation to climate goals; EU proposes major simplification of sustainability taxonomy; Google turns the corner on data center emissions, but supply chain drags carbon footprint higher; revised European Sustainability Reporting Standards may cut datapoints (..)
This week in ESG news: European Commission proposes cutting emissions 90% by 2040, includes role for carbon credits in target; Microsoft signs new 1 million ton+ carbon removal deal; companies, investors campaign to keep EU sustainable reporting rules intact; JPMorgan tokenizes carbon credits; Nestlé scales program to boost cocoa supply chain sustainability; (..)
million pounds of plastic from flights; KKR, ECP to invest $50 billion in datacenter capacity and power generation; law firms ramp up ESG training for lawyers; capital raises for sustainable heating, industrial decarbonization, energy sector emissions solutions, and more. Copper Mine Operations to Renewable Diesel Southwest Airlines Eliminates 1.5
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainable investment labels, reduced SFDR (..)
Each are required not only to prevent greenwashing, but also to give investors, lenders and insurers the information they need to keep pace as economies evolve with the changing climate. Some see it as yet another think tank, though Arnold denies that the term applies.
Many in the fossil fuel industry have shamelessly greenwashed, even as they have sought to delay climate action – with lobbying, legal threats and massive ad campaigns. UN Secretary-General António Guterres has consistently sounded the alarm over the role of PR agencies in stalling more meaningful climate action for years.
Related ESG tourists are leaving, but sustainable funds are still growing in Canada RBCs climate retreat sparks debate over anti-greenwashing law Carney wants a pipeline. Instead, it would mandate honesty, prevent greenwashing, create trust and ensure that transition capital is deployed in alignment with its mandate.
Impakter B Corp Accused of Greenwashing by US Business Dr Bronner’s Today’s ESG Updates B Corp under fire: Dr Bronner’s accuses B Corp of greenwashing, prompting a shift to stricter standards and launch of rival Purpose Pledge. Peter Vigh
Other efforts by fossil fuel interests can be recognized by their shared strategies: The so-called bias-balanced approach to energy education, which suggests that industry perspectives are necessary to a full and fair picture, framing lessons that exclude those perspectives as biased; Greenwashing, or making misleading environmental impact claims, (..)
Theme: Navigating the energy transition Register today Thursday 14 November 2024 11:30am – 1:00pm (GMT+4) | Greenwashing: Are your green claims robust enough to withstand scrutiny and avoid greenwashing accusations? With sustainability and transparency at the forefront of the business landscape, the issue of greenwashing has emerged.
Yes, greenwashing and window-dressing still dominate the business landscape, but rankings like the Best 50 prove that progress is possible. — Toby Heaps, Corporate Knights publisher and CEO These programs offer proof that businesses can genuinely move the needle on real issues that matter to Canadians and to the environment.
Adopted by the EU in November 2023 , and taking effect in December 2024, the EuGB regulation was launched by the European Commission to establish a gold standard for green bonds, in order to combat greenwashing and advance the sustainable finance market in the EU.
Impakter European Commission to Withdraw Law Against Greenwashing Today’s ESG Updates European Commission to Ditch Law Targeting Greenwashing: EU signals withdrawal of environmental claims directive as right-wing pressure mounts. Lena McDonough
Only by moving from averages to actuals audited at reasonable assurance can freeriding and greenwashing be avoided, thereby protecting such valuable investment and our planet. Besides smart, reliable regulation also accurate data on emissions along the supply chain is paramount to trigger the necessary investment.
The greenwashing challenge Our findings highlight both the potential and pitfalls of sustainable finance. However, the fact that many choose labels without finding out whether the bond is actually green raises concerns about greenwashing. Investors with a high-risk tolerance were more likely to invest in green bonds.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Amazon Signs 1.9
The answers to these questions will be shaped by the regulatory requirements faced by investors, including their fiduciary duties, their disclosure requirements, and the need to avoid greenwashing. This has led to a serious shake out in the sustainability space.
Standardised approach aims to improve transparency, eliminate greenwashing risks around avoided or Scope 4 emissions. By promoting transparency and harmonisation, the group also hopes to mitigate greenwashing risk and build investor confidence in financing emissions avoidance solutions.
The report also found that greenwashing had overtaken performance concerns as the pre-eminent barrier to responsible investing. Regulators’ focus on greenwashing has also contributed to heightened transparency, as investors seek to back up their sustainability claims.”
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.
The recent anti-greenwashing law and the subsequent withdrawal of sustainable finance commitments by a Canadian bank and pension fund highlight the fault lines in our climate-information system. To move forward, Canada needs better data and a better system – a climate-information architecture – for using it.
The directive also targeted the proliferation of private environmental labels, requiring them to be reliable, transparent, independently verified and regularly reviewed, and allowing new labels only if developed at the EU level, and approved only if they demonstrate greater environmental ambition than existing label schemes.
Adopted by the EU in November 2023 , and taking effect in December 2024, the EuGB regulation was launched by the European Commission to establish a gold standard for green bonds, in order to combat greenwashing and advance the sustainable finance market in the EU.
Apple’s motion to dismiss a class-action suit over alleged greenwashing has attracted an unusual ally, the Environmental Defense Fund (EDF). The complaint, which represents seven buyers, … Continue reading Why EDF is backing Apple in a class-action greenwashing suit
Bringing ESG ratings providers into regulation will boost investor confidence, reduce greenwashing, and address the lack of transparency highlighted in responses to the government’s consultation. This will help to drive investment, support innovation and ensure that companies in critical sectors are not penalised by opaque ratings.”
For procurement professionals, the ACT Ecolabel streamlines decision-making by enabling direct product comparisons across suppliers while mitigating greenwashing risks. The ACT Ecolabel offers meaningful benefits to both manufacturers and procurement teams to support sustainable product development and smarter purchasing decisions.
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.
Whilst the government’s ambitions to continue as a global leader remain unchanged the consultation responses showed that other policies were of higher priority to accelerate investment into the transition to net zero and limit greenwashing.” Sustainable investment groups expressed disappointment at the government’s decision.
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