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Executive Panel: Addressing Greenwashing in Financial Sectors

Year Published

2023

Contributing Organizations

Global Affairs Canada (GAC)
International Monetary Fund (IMF)
The Swedish International Development Cooperation Agency (Sida)
Toronto Centre

Type of Resource

Webinar or Podcast

Languages

English

Relevant Topics

Core Topic
Climate Policies & Frameworks
Topic 2
Organizational Change & Leadership

Target Audience

All

Relevant Geography

Global

Resource Description

This panel discussion explores how to address greenwashing in financial services, focusing on disclosure standards, regulatory enforcement, assurance practices, and capacity building.

Why This Matters

Greenwashing undermines investor confidence and misguides capital flows. This discussion offers collaborative approaches to improve standards, oversight, and market integrity.

Key Insights

  • Defines greenwashing as low-quality or misleading ESG disclosures that reduce market trust
  • Stresses the need for global, auditable standards to replace unnecessarily fragmented voluntary frameworks
  • Highlights weak internal controls and assurance for ESG data, particularly from non-financial systems
  • Describes the use case for capacity building across firms, regulators, and auditors
  • Underscores the board’s role in governance and oversight of sustainability claims

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