Per this article, due to “the expectation of competitive advantage derived from an image of sustainability has opened the door to green and social washing”…and created an environment where risks and damages are growing.
Last year, greenwashing accounted for 1 in 5 cases of corporate risk incidents tied to ESG, but this year, it is 1 in 4.
Companies know sustainability = money, so many are happy to mislead/greenwash. Look for ‘self-audits’ and ‘self-certifications’ as an easy giveaway.
However, it is getting harder to get away with the lie. Per the article, “in recent years, symbolic sustainability has backfired for many, as media, public, and regulators criticize unfounded claims”…doing more damage to the brand than the sales gains had won.
Simple rule – An organization that promotes any green-related action without a valid, legitimate 3rd party certification/verification is greenwashing.
Prediction – Watch for those that are currently greenwashing to go to the next level of misinformation – ie, getting 3rd party certified by their Uncle Vinnie or some non-globally-respected organization. So, when they say they are certified/verified, as for the name of the certifier/verifier.
If you want the benefit they are trying to gain, but don’t want the risk of getting caught for greenwashing, watch this master class and contact us.