Measures urged to mitigate ESG 'greenwashing' risks

With the upsurge in green practices and green bonds, it has become apparent that some firms have been failing to take actions of reducing their greenhouse gas (GHG) emissions, or have been making misleading claims about the environmental benefits of their products or services in order to lure customers. Such activities are known as "greenwashing". The widespread use of such practices must be addressed, or they will impede progress in combating climate change and will take a heavy toll on the investment environment. Business leaders and experts who attended China Daily Hong Kong Edition's Masterminds gathering have proposed various solutions to mitigate greenwashing risks, such as raising public awareness, balancing regulation guidance and providing technology scrutiny. The gathering commenced on a scorching-hot day, reflecting the urgency and significance of the topic at hand.