Greenwashing in financial services

Pilar, perhaps you can start by reminding us, what is greenwashing? Greenwashing

refers to claims about environmental or sustainability performance that are misleading or that are exaggerations or unsubstantiated.

These claims can relate to products, services, investment strategies, corporate policies, or even long-term commitments like net zero targets.

There are two things that are important.

One is that greenwashing does not require bad faith or intent.

So companies that believe their claims to be accurate, if they cannot substantiate them, they could be accused of greenwashing.

And second, very important, greenwashing risk goes beyond marketing slogans.

Regulators are increasingly focusing on Thanks, Pilar.