The companies' investment processes were examined for evidence of misleading terms like 'carbon neutral', 'clean' or 'green', Read more at straitstimes.com.
SYDNEY – Australia’s corporate watchdog has investigated more than 100 companies under a drive to flush out greenwashing in the managed funds sector, and warned it plans to step up scrutiny of the issue.against pension fund Mercer Superannuation Australia, and issued 11 infringement notices and agreed on 23 corrective actions in the nine months through March, according to a report on Wednesday.
“Interventions are aimed squarely at promoting fair and transparent markets so that retail investors and financial consumers are well informed and not misled on the ‘green credentials’ of investments and listed companies,” Asic’s deputy chair Karen Chester said in a statement. Regulators globally are sharpening their focus on companies making claims about investments sold with environmental, social and governance credentials, particularly with investors relying on the pledges to meet net zero targets.
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