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ARTICLE · 13 MAY 2024

ESG - Horizon Scanner Finance May 2024

Arthur Cox
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Final reports from ESMA, the EBA and EIOPA on greenwashing are due in May 2024, following publication of interim progress reports in June 2023...

IrelandEnvironment
Arthur Cox
Arthur Cox
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Final reports from ESMA, the EBA and EIOPA on greenwashing are due in May 2024, following publication of interim progress reports in June 2023 (interim EBA Report, interim ESMA Report, interim EIOPA Report). This arises from the European Commission's May 2022 request to the ESAs, asking for:

  • input on the occurrence of greenwashing,
  • feedback on the potential for greenwashing risks, and
  • an overview and assessment of supervisory practices, experience, convergence and capacities relating to the prevention of greenwashing,

and subsequent calls for evidence issued by each of the ESAs (read our insights here: ESG Update: ESAs call for evidence on greenwashing).

The June 2023 interim reports included the ESAs common high-level understanding of greenwashing applicable to market participants across their respective remits – financial markets, banking, and insurance and pensions: "a practice where sustainability-related statements, declarations, actions,

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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