If a product is found violating greenwashing guidelines on multiple occasions, those products may be banned from sale, an official said. Greenwashing refers to false or misleading claims by organisations about the positive impact that a company, product or service has on the environment.
When companies engage in greenwashing by misleadingly presenting themselves as environmentally friendly or socially responsible, they undermine the very essence of ESG. This deceit erodes trust among investors, consumers, and stakeholders, sowing scepticism about the authenticity of corporate commitments
Meanwhile, the Bureau of Indian Standards (BIS) has suggested the Environment Ministry not to certify biodegradability of plastics as it has not been established and research are still going on in India and other countries.
The fight against climate change needs drive and a lot of finance. Many are looking to carbon markets as part of the answer.
The report, released at the COP 27 climate conference in Egypt, is intended to draw a "red line" around false claims of progress in the fight against global warming that can confuse investors and policymakers.
Regulators and activists have become concerned that US funds looking to cash in on the popularity of ESG investing may be misleading shareholders over their ESG credentials
Birkenstock CEO Oliver Reichert says the company would rather be honest about using materials like leather instead of ‘greenwashing’ – project an exaggerated image of sustainability.