Greenwashing is rife in retail financial services. The European Commission has recognised this, and in May 2022 it asked the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority to look into the matter. In November 2022, the three supervisory authorities issued a joint call for evidence about greenwashing, with a deadline for January 2023. BEUC welcomes this effort to better understand greenwashing in financial services, a growing problem that requires supervisory and legislative remedies to protect consumers from misleading product marketing. The authors have compiled evidence of greenwashing practices from their member organisations across Europe. This paper provides an overview of BEUCs position.
Link zur Publikation