Regulatory interventions related to corporate climate communications are on the rise in 2022, with no signs of slowing.
Multiple companies have recently been hit with decisions by the US Securities and Exchange Commission and the UK’s Advertising Standards Agency, and within the European Union, companies are dealing with enforcement of EU regulations by domestic agencies. In France, a recent legal amendment extended the threat of imprisonment and hefty fines for those found to have perpetuated “greenwashing.”
Although these interventions have so far focused chiefly on brand advertising and product marketing, expectations on climate across stakeholder groups – such as investors, NGOs and consumers – continue to increase, with a focus on company statements being accurate and reflective of overall impact, irrespective of communications channel.