Many entities have embraced sustainability as a core element of their operations and strategy, which is to be encouraged.
Entities should be aware that the ASIC and ACCC are actively monitoring entities which they believe are making misleading or unsupportable sustainability claims, known as greenwashing. If found to be greenwashing, businesses may face regulatory action, including substantial fines, reputational damage, and loss of customer trust.
The diagram below shows the entities that have been subject to ASIC action to date with the associated media release reference to enable further reading.
We encourage you to ensure that all information and sustainable statements made in the annual report, website or social media accounts are accurate, verifiable and factual – rather than aspirational.
Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.