ASIC has released Report 763 ASIC’s recent greenwashing interventions (Report 763) which outlines ASIC’s regulatory interventions made between 1 July 2022 and 31 March 2023 in relation to greenwashing concerns.
The Report outlines ASIC’s surveillance and enforcement activities related to greenwashing claims about their environmental, social and governance (ESG) credentials by listed companies, managed funds and superannuation funds.
ASIC’s work has covered disclosure documents, Product Disclosure Statements (PDSs), advertisements, websites and other market disclosures as well as reports of misconduct and breach reports.
The report provides examples of ASIC’s regulatory interventions with reference to the following themes:
- net zero statements and targets;
- use of terms such as ‘carbon neutral’, ‘clean’ or ‘green’;
- fund labels; and
- scope and application of investment exclusions and screens.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
