State Super warns against greenwashing as regulator turns up heat
Australian super funds overstating the positive environmental impact of their portfolios are coming under fire as the country’s financial watchdog increases focus on greenwashing.
Increased investor demand for sustainability-related financial products in the Australian market comes with a growing risk of ‘greenwashing’, which is the practice of misrepresenting the extent to which a financial product or investment strategy is environmentally friendly, sustainable or ethical.
The Australian Securities & Investment Commission (ASIC) has made greenwashing one of its enforcement priorities for 2023, a move which John Livanas, chief executive at State Super, …
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