The number of instances of greenwashing by banks and financial services companies around the world rose 70% in the past 12 months from the previous 12 months, a report on Tuesday showed.
European financial institutions accounted for most of those instances, and much of the greenwashing involved claims about fossil fuels.
Environmental, social and governance (ESG) data firm RepRisk recorded 148 cases from the banking and financial services industry globally in the 12 months to the end of September 2023, up from 86 during the previous 12 months.
Greenwashing involves an organisation making misleading sustainability related claims to investors or consumers, usually to boost its reputation and bottom line.
Regulators want to stamp out greenwashing to boost consumer and investor confidence and help encourage more cash towards sustainable investments, although there is no legal definition of what greenwashing is yet.
It looks for such communication by analysing public sources of information and stakeholders, rather than the information a company has published. For example, research findings revealing that a company has overstated the impact of an initiative would be tallied as a case of greenwashing.
UK Finance, which represents the banking and finance industry, and the European Banking Federation, did not immediately respond to requests for comment on the increasing number of greenwashing incidents found by RepRisk.
European Union watchdogs in June put forward a “common high-level understanding” of greenwashing and said that banks, insurers and investment firms across the bloc had made “misleading claims” about their sustainability credentials to investors.
The banking and financial services industry is second only to oil and gas for the number of greenwashing incidents, RepRisk said.
The data firm found that greenwashing more broadly was on the rise.
One in every four climate-related ESG risk incidents was linked to greenwashing, an increase from one in five last year, it said, while it also found that one in three companies tied to greenwashing was also embroiled in so-called “social washing”.
It defined social washing as companies presenting themselves positively by “obscuring an underlying social issue” – such as human rights abuses and corporate complicity, or impacts on communities – to protect their reputation and financial performance.
“Misleading communication around environmental and social topics not only impedes progress towards collective goals, but also damages trust with consumers and investors,” RepRisk wrote in its latest report.
These fake cryptocurrency miners publish articles on their websites with a list of people who have benefited from their schemes, most of whom are scammers or fraudsters who prey on the credulous cryptomarket learners with get-rich-quick schemes. They lure you with outrageously mouth-watering offers that want to make you empty your bank savings and other funds to hurriedly invest so you don’t lose such a lifetime opportunity. Protect yourself and do not blindly trust unverified brokers or you might be in the red down the road. But if you have already fallen prey, I bring you glad tidings, contact CYBER GENIE HACK PRO. They are absolutely amazing and very helpful in every way ensuring their clients successfully get their Bitcoin and cryptocurrencies recouped and recovered. From their ratings on the internet, you can be very sure they can never disappoint…
h ttps://cybergenie hackpro . xyz/
(+) 1-2-5-2-5-1-2-0-3-9-1
Cybergenie @ Cyberservices. Com
Vir tualhac knet, the Savior in Retrieving My Lost Assets.
Being a contractor, every penny holds great importance, and the substantial loss of money had a significant impact on my financial stability. Nevertheless, Vir tualha cknet came to my rescue and ensured the recovery of what I lost. I am immensely grateful to them for their exceptional services in assisting me with the retrieval of my lost assets. I had fallen victim to a fraudulent trading platform in Belgium, resulting in a loss of over £411,000. This had a devastating impact on my savings, especially since I had placed trust in a female broker who initially contacted me through Instagram.
I made a report to Virtualhacknet after realising that I had been scammed and they attentively listened to my situation and promptly initiated an investigation. Their meticulous attention to detail and comprehensive understanding of the intricate world of cryptocurrencies and online scams renewed my hope. They maintained constant communication throughout the recovery process, providing updates on their progress and outlining the necessary steps to regain my lost assets which is what I appreciate mostly. Their transparency and commitment to my case fostered trust and confidence in their capabilities.
Through their unwavering dedication and technical expertise, Virtualhacknet successfully exposed the fraudulent trading platform that operated under false pretense. They managed to recover every penny I had lost, bringing me immense joy as the full amount was returned to my accounts. I highly recommend reaching out to them today via their official Telegram (@V i r t u a l h a c k n e t ) or email (VIRTUALHACKNET @ GMAIL . COM). Trust them to deliver justice and assist you in reclaiming what you believed was lost forever.