We also have concerns about greenwashing among federal financial institutions, such as banks.
That was one of the recommendations we made in our OSFI report a year ago.
Our recommendation 4.63 reads as follows: To strengthen regulated institutions’ accountability for transition to a net zero emission economy and to avoid greenwashing, the Office of the Superintendent of Financial Institutions Canada should set clearer guidance about the information reported in the institutions’ transition plans.
So we discussed federally regulated institutions such as banks, but the provinces also need to take action to prevent greenwashing within the limits of their areas of jurisdiction.