Financial institutions face growing exposure over greenwashing. This can arise not only when their public statements on sustainability and responsible business practices are misleading, selective or incomplete, but also when their products and marketing strategies do not align with their public sustainability goals.
Sustainability-related communications range from the publication of nonfinancial statements to the referencing of such terms in financial product names. Increasing demands over reporting have made financial institutions more vulnerable to scrutiny leaving them exposed to litigation, enforcement and damage to reputation in this respect.
This guide considers what is greenwashing, the developing legal landscape and how financial institutions may mitigate the risk of reputational damage.
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