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ARTICLE · 07 JUNE 2024

ESMA Final Report On Greenwashing

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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ESMA has published its Final Report on Greenwashing. This much-anticipated publication follows the Progress Report on Greenwashing...

LuxembourgFinance and Banking
Emmanuelle Mousel
Emmanuelle Mousel
Isabelle Lebbe
Isabelle Lebbe
Stéphane Badey
Stéphane Badey
Harles Philippe
Harles Philippe
Antoine Peter
Antoine Peter
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ESMA has published its Final Report on Greenwashing. This much-anticipated publication follows the Progress Report on Greenwashing published in May 2023, which provided a first analysis of the responses to the EC's Request for input related to greenwashing risks and the supervision of sustainable finance policies from 2022. The Final Report advocates for a risk-based approach as the cornerstone of the supervisory efforts in the context of greenwashing.

Context

On 4 June 2024, the European Securities and Markets Authority (ESMA) jointly published its Final Report on Greenwashing (Final Report), introducing recommendations to improve the supervisory activities of National Competent Authorities (NCAs) and mitigate greenwashing risks. The publication builds on ESMA's Progress Report on Greenwashing (Progress Report), published in May 2023, and comes in response to the EU Commission's (EC) mandate from May 2022. As this mandate was issued to all three European

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