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ARTICLE · 18 NOVEMBER 2022

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ESG Update: ESAs Call For Evidence On Greenwashing

The European Supervisory Authorities (ESMA, EBA and EIOPA) have issued a Call for Evidence, looking for feedback on potential greenwashing practices across the EU financial sector.

IrelandFinance and Banking

The European Supervisory Authorities (ESMA, EBA and EIOPA) have issued a  Call for Evidence, looking for feedback on potential greenwashing practices across the EU financial sector.

The European Commission  wrote to the ESAs in May 2022, 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. 

The Call for Evidence contains a section common to all three ESAs and separate sections relevant to each ESA. One of the key areas in which the ESAs are seeking feedback as part of the cross-sectoral section is a draft list of potential 'core characteristics'  of greenwashing.

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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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