The Rise of Greenwashing

The investor boom in green products and services has long been underway. However, corporate claims of climate-friendly and sustainability are increasing, and so are claims of so-called being “Green.” The term “Greenwashing” refers to unsubstantiated, misleading, or incomplete assertions, statements or claims regarding a company’s environmental performance, processes, or products as a result of such claims, investigative and regulatory corporate agencies are attempting to actively regulate “Greenwashing.”

As the “Green” industry grows without a defined regulatory framework, there is a significant risk of complaints, litigation, and governmental enforcement action, as well as investigations that are associated with allegations of so-called “Green” products and services. Greenwashing is being challenged by utilizing a wide range of laws and regulations, including consumer protection laws, advertising standards, securities regulations, fraud, and misrepresentation statutes. The stakeholders represented in these actions range from organizations seeking corporate accountability for claims of an environmental good deed, to corporate competitors who are challenging their peers on the basis of unfair competition.

While the outcome of litigation, investigations, and complaints can include such damages as monetary compensation, nevertheless, greenwashing can generate significant damage to a corporation’s reputation.

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