Bankers Drive Huge Spike in False ESG Statements, Study Finds

The finance industry is pushing out more misleading ESG statements than at any time in at least the past half decade, according to a fresh study.

Over the past 12 months, there’s been a 70% increase in the amount of climate-related greenwashing that can be traced back to the finance sector, according to a study by RepRisk, a data provider used by the European Banking Authority. The study, which was published Tuesday, looks at developments since 2018.

“Misleading communication around environmental and social topics not only impedes progress towards collective goals, but also damages trust with consumers and investors,” ...