OPINIONISTA: Greenwashing is rampant and when it becomes fraud, companies must pay the price

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How much can companies lie in the name of advertising or reputation and get away with it; and what is the threshold for when this rampant practice will attract serious social and legal penalties?

Climate action is on every government and corporate agenda, but the world is far behind where it should be in acting to avoid the worst impacts of climate change. This is thanks at least in part to corporate advertising and lobbying that has cynically misled the public about climate science and climate action for decades.

Initiatives like the ESG Exchange are part of a growing global effort to address rampant greenwashing and we should all be behind them. Although imperfect, this combined endeavour is a rational response to the widespread practice of dishonesty in corporate disclosures. However, we can only hope to reign it in if greenwashing attracts real consequences that are commensurate to the behaviour.Corporates are, ever-so-slowly, starting to be held accountable.

Last year, the CEO of ExxonMobil was questioned by the US Congress about the company’s role in covering up and undermining climate science since the 1980s., despite exposure over the years of decisive evidence that the company has deliberately covered up and undermined climate science to stall government climate action.

 

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