🌍 #ESAs present a common high-level understanding of #greenwashing applicable to market participants across their respective remits – banking, insurance and pensions and financial markets → https://europa.eu/!H4f8xC. #SustainableFinanceEU
@EU_Finance @McGuinnessEU @DanielFerrie
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1664207217250258944
🌍 Progress Reports on #Greenwashing 👉 https://europa.eu/!H4f8xC
🌱 Sustainability-related misleading claims
🧲 can occur and spread either
🎯 intentionally/unintentionally
🔗 and in relation to entities and products
🌐 that are either within/outside t/ remit of 🇪🇺 framework
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1664218484744626177
ESMA Progress Report on #Greenwashing aims to:
🌱 support a better understanding of the phenomenon by market participants and supervisors
🌱 assess which areas of the sustainable investment value chain are more exposed to greenwashing risk
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1664600889443622912
#ESMA's assessment shows that:
🌱 misleading claims may relate to all key aspects of the sustainability profile of a product/entity
🌱 address cherry-picking, omission, ambiguity, empty claims, misleading use of #ESG terminology (naming and irrelevance)
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1666768072160563200
ESMA Report #Greenwashing: remediation actions
🌱 market participants 👉 to make substantiated claims
🌱 comprehensibility of sustainability disclosures to retail investors 👉 to be improved
🌱 establish labelling scheme
🌱 reinforce regulatory framework
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1668231146272960512
🌍 ESMA is contributing to ensuring that the finance of the future is sustainable.
Addressing #greenwashing is one of our priorities as reflected in #SustainableFinanceEU Roadmap and #ESMAstrategy.
@EU_Finance @EFRAG_Org @Eurosif @UNEP_FI
📽️ Our work: https://youtu.be/rGMqyYn6qp4
🐦🔗: https://n.respublicae.eu/ESMAComms/status/1664207860178231301