Beware Of Greenwashing
While ESG practices have steadily increased globally in the past decade, there has also been increasing concerns about greenwashing whereby inaccurate or exaggerated climate friendly claims have been made by companies. India has recently embarked on its ESG reporting journey with SEBI’s Business Responsibility Sustainabiltiy Report, mandatory for top-1000 listed Indian entities by market capitalization. There are no specific laws in India to rein in greenwashing yet. However, SEBI has also set up an advisory committee for ESG matters, which will also focus on ‘mitigation of risks of mis-selling and greenwashing’.
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