Greenwashing – Page 2 – Global Investment Law Watch

Australia: Ongoing Regulatory Requirements for Issuers Under the Trans-Tasman Mutual Recognition Scheme

Apr 24 2023

By Lisa Lautier and Alexander Lalor

The formal warning recently issued by the New Zealand Financial Markets Authority (FMA) to Vanguard Investments Australia Limited (Vanguard Australia) on 29 March 2023 provides a timely reminder of the ongoing notifications requirements applicable to New Zealand and Australian financial product issuers relying on the trans-Tasman mutual recognition scheme (TMRS).

Europe: UK’s FCA Issues Stern Warning to ESG Benchmark Administrators for Lack of Rigour

Mar 31 2023

By Zainab Kuku

The FCA did not hold back in its most recent comments to ESG benchmark administrators, in an indication of its increasingly adversarial approach to ‘greenwashing’. It described the quality of disclosures of ESG factors considered in benchmark methodologies as ‘poor’, and aimed clear warning shots at administrators who fail to comply with the FCA’s feedback.

Australia: ASIC Reveals 2023 Enforcement Priorities

Feb 20 2023

By Matthew Watts and Rebecca Mangos

The Australian Securities and Investments Commission (ASIC) has revealed its key enforcement priorities for 2023. This year, ASIC has signalled an expanded focus on enforcement activity targeting:

sustainable finance practices and disclosure of climate risks;
financial scams;
cyber and operational resilience; and
investor harms involving crypto-assets.

Australia: ASIC Starts 2023 with Focus on Greenwashing

Jan 17 2023

By Jim Bulling and Anabelle Weinberg

ASIC has brought in the New Year with a focus on green-washing, issuing infringement notices against two different companies, one a superannuation fund trustee and the second being an energy company. The corporations have paid $13,320 and $39,960 respectively in compliance with the infringement notices, noting that payment of such infringement notices is not an admission of guilty or liability.

Australian Regulatory Update – 2 November 2022

Nov 02 2022

By Jim Bulling and Anabelle Weinberg

1. ASIC takes its first ‘greenwashing’ action

ASIC has taken its first ‘greenwashing’ action against Tlou Energy Limited (Tlou). Tlou has paid a total of $53,280 to comply with four infringement notices issued by ASIC over concerns about alleged false or misleading sustainability-related statements. Tlou have not admitted guilt.

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