No, it isn't, for two reasons.
First, it applies solely to voluntary disclosures. If a company voluntarily decides to state that it's green or sustainable or that it meets environmental, social and governance criteria, or whatever, it will have to prove that. However, if a business decides to report nothing, then it provides no information that the market can rely on to make a decision. Consequently, that doesn't solve the information asymmetry problem.
Second, companies are required to provide evidence whenever they state something, such as when they claim that they're green, but they aren't required to disclose evidence to that effect. Imagine if my financial adviser told me tomorrow morning to invest in a product that met environmental, social and governance criteria, or in a sustainable product, and assured me I could do so confidently because those businesses were required under the act to prove that the products in question were green. If I asked him to show me proof of that, he might tell me he couldn't do it.