On November 15, the European Supervisory Authorities (ESAs) (the EBA, EIOPA and ESMA) published a call for evidence seeking feedback on potential greenwashing practices in the EU financial sector (banks, insurance and financial markets).
Input is expected in connection to sustainability claims regarding entities (entity-level claims) and products or services (product-level claims).
The call for evidence focuses on the following areas:
Core features of greenwashing
Dimensions of greenwashing (e.g. the topics of sustainability-related claims, the way in which a claim can be misleading, communication channel…)
Examples of potential greenwashing practices
Greenwashing in the context of credit institutions, investment firms and payment service providers’ activities
Greenwashing and its related - risks
Drivers and the scale of greenwashing risks
Consideration of greenwashing risks by financial market participants and issuers
Comments provided will help ESA’s better understand greenwashing, its scale and potential related risks in order to provide commensurate recommendations.
Comments must be submitted online at this link and by 10 January 2023.