Avoiding greenwashing in the financial sector: impact of recent regulations and ways forward

Objectives

There have been recently some clear cases of greenwashing in the financial sector inside and outside the EU. In the EU this has taken place despite the progressive implementation of the EU regulation about ESG (Environment, Social, Governance) or sustainable transparency (SFDR, CSRD, taxonomy). There have been also many greenwashing controversies in the EU and in other parts of the world which raised too much confusion on the sustainable nature of financial products, as illustrated for instance by the reclassification of the so-called “Article 9 funds” in reference to SFDR. The roundtable will try to assess the real nature and importance of greenwashing, to look at the impact of present and upcoming regulations and to make recommendations for improving this situation in the EU and outside the EU.

Points of discussion

1. What is the importance of greenwashing and of greenwashing risks in the financial sector today inside and outside the EU?
2. How do you assess the regulatory initiatives adopted in the EU -and elsewhere- so far?
3. Are there other solutions to avoid greenwashing?