European supervisors unveil new rules to combat ‘greenwashing’

Authorities say the “significant” new rules should lead to better climate disclosures

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Photo: Esma

The three main European supervisory authorities (ESAs) have launched a new framework for climate-related financial disclosures, which they hope will combat the practice of “greenwashing”.

The proposed rules are intended to ensure firms disclose the “principal adverse impacts” of their investment decisions according to environmental, social and governance (ESG) criteria. The rules also apply to disclosures on the sustainability of a “wide array of financial products”, the ESAs said.


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