Even before the period covered by the Australian regulators current greenwashing investigation of the $14 billion Australian super fund, it was flouting its own prohibition on gambling investments.
Tag : greenwashing
Hostplus, TelstraSuper, and Commonwealth Bank Group Super blocked more than
70% of climate-change-related shareholder proposals in 2022.
Under pressure from new regulatory sanctions for greenwashing, Australia’s responsible investment market is shrinking.
As Active Super gets sued by the Australian Securities and Investments Commission, other super funds will feel pressure to beef up their processes and understanding of ESG to ensure they don't fail under regulatory scrutiny.
Regulators are taking steps to strengthen efforts for trustworthy ESG and sustainability reporting standards, which in turn can help reveal hidden value in investee companies.
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.
One of the large-scale regulations coming into play in 2023 will be fresh European rules around ESG fund marketing. Asian nations are also planning labelling and disclosure requirements.
Even as regulators crack down on the practice, accurately estimating the environmental and social impact of an investment remains challenging.
