Finance free zone takes action against greenwashing
- Date: 16-Feb-2024
- Source: AGBI
- Sector:Financial Services
- Country:UAE
Finance free zone takes action against greenwashing
A clampdown on greenwashing by “bad actors” trying to enter the fast-growing sustainable finance industry is underway in the UAE financial free zone Abu Dhabi Global Market. Greenwashing is the use of deceptive marketing by companies to persuade investors and the public that their products, aims and policies are environmentally friendly. “The challenge is [creating] […]
Clampdown at Abu Dhabi Global Market
New rules for carbon trading
Aim is ‘transparency and credibility’
A clampdown on greenwashing by “bad actors” trying to enter the fast-growing sustainable finance industry is underway in the UAE financial free zone Abu Dhabi Global Market.
Greenwashing is the use of deceptive marketing by companies to persuade investors and the public that their products, aims and policies are environmentally friendly.
“The challenge is [creating] transparency, trust and credibility,” said Emmanuel Givanakis, chief executive of the Financial Services Regulatory Authority at ADGM. “We need to avoid greenwashing. We don’t want bad actors taking advantage of the opportunities.”
Gulf’s ESG uptake hindered by lack of expertise
Blockchain is the antidote to greenwashing
Middle East wealth funds wary of greenwashing
In the financial services industry, consumers and investors are coming under heightened pressure to back projects designed to lower greenhouse gas emissions. This has raised appetites for green bonds,