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https://www.theguardian.com/australia-news/2023/mar/01/accc-to-crack-down-on-greenwashing-after-survey-reveals-spike-in-misleading-claims>
"The competition watchdog will step up its probe of companies’ environmental
claims after an initial sweep found more than half made misleading statements
ranging from overstating climate action to developing their own certification
schemes.
The survey of 247 businesses or brands across eight sectors by the Australian
Competition and Consumer Commission last October found 57% had promoted
“concerning claims about their environmental credentials”.
“Consumers are now, more than ever, making purchasing decisions on
environmental grounds,” said ACCC deputy chair Catriona Lowe. “Unfortunately,
it appears that rather than making legitimate changes to their practices and
procedures, some businesses are relying on false or misleading claims.”
Businesses genuinely pursuing more sustainable goods and services often incur
additional production or research costs. They face being unfairly disadvantaged
if rivals can get away with making false or misleading claims, the ACCC said:
“This undermines effective competition and can create a disincentive for
businesses to invest in sustainability.”
Known broadly as “greenwashing”, the practice of making vague or unwarranted
claims has been in the sights of regulators for years. Firms have been able to
avoid significant penalties for such action, although court cases might soon
change that.
The corporate regulator, the Australian Securities and Investments Commission,
this week launched its first court proceedings alleging greenwashing.
ASIC alleges Mercer Superannuation (Australia) Ltd made statements on its
website about seven “Sustainable Plus” investment options that were misleading.
Some investments had companies that website statements stated as excluded, such
as fossil fuel producers, Whitehaven Coal and Glencore PLC, ASIC will tell the
federal court.
The ACCC said its sweep indicated a significant proportion of businesses may be
making environmental claims that deserve closer scrutiny."
Cheers,
*** Xanni ***
