Consumer demand that companies show they are environmentally friendly has grown dramatically over the past few years causing greenwashing (making false claims about environmental actions) to grow even faster.
Per this article, according to a recent study by Zippia, 72% of North American and 58% of global companies admit to embellishing their environmental claims for economic gain. (When they are asked confidentially, the number is even higher).
Canada is looking to slow corporate greenwashing via its new Bill C-59 by requiring claims to be supported with a valid/respected certification and 3rd party verification.
The C-59 fines are steep – up to $15 million, or three times the value of the ill-gained profit or 3% of the company’s profit…per offense.
Needless to say, this will impact more than Canadian companies. It will impact any company selling product into Canada.
The EU already has similar laws. Expect the rest of the world to follow suit.
If you want to get ahead of this and use it to your advantage, read this on what you want in a sustainability program, watch this master class, and contact us.