Australian Corporate Regulators Continue To Target Environmental Claims And Greenwashing In Enforcement Activities

ESG-related enforcement remains a top priority and focus for Australia's corporate regulators. Since our last update, there has been a steady stream of enforcement activity aimed at climate-related representations and greenwashing conduct, including several cases advancing through the courts. In June 2024, the Federal Court of Australia ruled in favor of the Australian Securities and Investments Commission ("ASIC") in a greenwashing action against a superannuation fund. This is the third action of its kind commenced since 2023 by ASIC and the second in which the Court has ruled in favor of the regulator. Australia's antitrust and consumer law regulator, the Australian Competition and Consumer Commission ("the ACCC"), has also become increasingly active in this space, having singled out environmental and sustainability claims as one of its enforcement and compliance priorities for 2024/25.