‘Greenwashing is fraud’: JSE companies mull climate change pandering

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‘Greenwashing is fraud’: JSE companies mull climate change pandering - The head of the Global Reporting Initiative says the practice deserves strong repudiation because it misleads investors and other stakeholders

The document was formulated as more companies come under scrutiny by investors and other stakeholders for their climate change mitigation efforts.

“The JSE recognises the need to create an enabling environment for better disclosure practices, especially in light of regulation and guidance that are changing rapidly globally.

Last week, Texas comptroller Glenn Hegar released a list of financial companies that boycott energy companies. Hegar is implementing a law that requires state pension and school funds to divest shares they hold in these companies. Earlier this week, Florida governor Ron DeSantis led a resolution to stop the state’s pension funds from considering ESG criteria.This type of legislation, he added, does not make sense from a business point of view. ESG constitutes proper risk management and good governance, Van der Enden explained. “Not taking these topics into account, at a modern organisation, just won’t do.”

 

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