EIOPA publishes final advisory report on greenwashing and sustainability claims

EIOPA issued its final report on 4 June 2024, which contained its recommendation to the European Commission on the risks of greenwashing and the supervision of sustainable financial policies. The report was issued following the Commission's call for advice in May 2022, which in summary consisted of three parts:

1. input information from European supervisory authorities ( ESA ) on occurrences, cases and complaints of greenwashing practices combined with ESA's assessment of the extent and frequency of greenwashing;
2. supervision of greenwashing by national competent authorities ( NCA ); a
3. proposals to provide ESA to improve the current regulatory framework.

The report serves as EIOPA's final contribution to the call for advice and addresses the first and second parts of the Commission's requests. EIOPA addressed the first part in its Greenwashing Progress Report of 31 May 2023. (Eoin Caulfield, Ian Murray, Catherine Carrigy, more at lexology.com)