Corporate Watchdog Plans to Target Shady Green Funds

Published on November 21, 2023

The Australian Securities and Investment Commission (ASIC) will hone in on “misleading conduct” in sustainable finance including greenwashing next year. This is one of multiple enforcement priorities for the corporate watchdog in the 2024 year, outlined on Nov. 21. The independent Australian government raised concerns about consumers paying green premiums, along with greenwashing, at the ASIC Annual Forum in Melbourne. Chair Joe Longo, speaking at the forum, said sustainable financial reporting and disclosure has been identified by ASIC as an area of serious potential harm to consumers. Mr. Longo said consumers may end up paying a green premium for investing in funds that don’t meet ESG standards....

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