Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. ESG news
  3. European financial authorities gather evidence on greenwashing
ESG news

European financial authorities gather evidence on greenwashing


16 November 2022 Europe
Reporter: Bob Currie

Generic business image for news article
Image: Parradee/stock.adobe.com
Three European supervisory authorities have released a call for evidence on greenwashing.

The objective is to provide a better understanding of the major features, drivers and risks linked to greenwashing in financial services and to provide examples of this practice.

The three authorities, the European Banking Authority (EBA), the European Securities and Markets Association (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA), have launched this call for information, recognising that building a more detailed understanding of greenwashing practices will help to inform policy making and financial supervision and will improve the reliability of sustainability-related claims in financial services.

With rising demand for sustainability-related products and services, the regulatory authorities recognise the need to develop a better understanding of areas that may become vulnerable to risk of greenwashing.

Drawing on evidence from industry stakeholders, this call for evidence will also help to construct a picture of how greenwashing practices may erode the sustainability objectives of the sustainable investment value chain and the financial product lifecycle.

In issuing this call for information, the regulators recognise that ‘greenwashing’ is a portmanteau term that can relate to a diverse range of environment, social and governance considerations and their links to finance services.

In this respect, these regulatory authorities welcome responses from financial institutions falling under their supervisory oversight, along with a wide range of other stakeholders including retail investors, consumer associations, non-governmental organisations and the university sector.

Respondents are invited to submit their contributions by 10 January 2023. They are asked to concentrate on reporting greenwashing risks and examples of how these occur in a practical context in financial services which fall under the scope of the three European supervisory authorities.

A final report, detailing the findings of this call for evidence, is targeted for May 2024.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →