Spotting greenwashing needs all hands on deck
Recognising greenwashing is a team sport that requires many parties to ensure that there is disclosure and clarity, a global asset manager said. Ahead of the InvestorDaily ESG Summit 2023, gold partner Russell Investments’ managing director, head of adviser and intermediary solutions Australia, Neil Rogan said that it is important for companies to focus on fair disclosures to stamp out greenwashing. Moreover, advisers and investors must be able to access these disclosures, he insisted.
In addition, Mr Rogan called on companies to produce accurate reporting so that fund managers, advisers, and investors are able to avoid companies that are potentially overstating their green credentials. “This goes back to almost a four-party model here where you’ve got investors like ourselves, you’ve got clients and advisers, and you’ve got associations as well as regulators that ensure that there’s clarity, fairness, accuracy, and disclosure,” he told InvestorDaily. Indeed, the Australian Securities and Investments Commission (ASIC) has said that it will be closely monitoring organisations’ misleading conduct and claims of greenwashing that cannot be sustained as part of its priorities in 2023, and vowed to take enforcement action where necessary.
The rest of this article can be found at investordaily.com.au.