FEBEA and its members have contributed to the European Supervisory Authorities’ (ESAs) call for evidence on potential greenwashing practices in the EU financial sector.
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The increasing demand for Environmental, Social, and Governance (ESG) investments and the shift of private capital towards sustainable activities create opportunities for greenwashing. When these practices are exposed, they undermine trust in the banking and financial sectors.
This Policy Brief from FEBEA, published with the support of the European Union, analyzes the issue of greenwashing and identifies potential practices and claims. It emphasizes that a genuine commitment to sustainability from all stakeholders throughout the value chain is necessary, rather than mere compliance with the minimum requirements for a product or activity to be considered “green.”
FEBEA calls for transparency in ESG ratings and advocates for excluding nuclear energy and natural gas from the list of sustainable investments under the Taxonomy Regulation, among other demands.
The 8th Report on Ethical Finance in Europe presents evidences of how ethical finance is now a necessary, solid and credible model that serves the common good rather than a niche alternative.
As the ESF+ appears to be questioned in the new Commission’s plans, Social Economy organizations unite to call for stronger support.
A position paper co-authored by FEBEA and the Sustainable Banking Coalition on the Omnibus Proposal.