BlackRock, United Join Growing Club Citing Greenwashing Risks (1)

BlackRock, United Airlines, Phillips 66 and other big companies increasingly are warning investors about risks they face from more scrutiny of their claims to fight climate change.

At least 14 S&P 500 members—including the asset manager, airline and oil refiner—have cited “greenwashing” in their 10-K annual reports so far this year, usually as a business risk factor, according to a Bloomberg Law review of company filings with the Securities and Exchange Commission. Only five companies in the index referenced it in 10-Ks filed in 2022.

Most conversations focused on potential reputational damage, litigation and US and international regulation ...