Thank you for the question.
There has been a great deal of reflection on that recently, particularly in terms of the Competition Act. Greenwashing refers to when economic stakeholders, such as banks or businesses, make commitments or promote practices using unclear language. As we've indicated, such language does not allow a comparison of actions taken by stakeholders or a true understanding of what is being included.
Terms such as “transition plan”, “green investment”, “responsible investment” or “ethical investment” are common. The meaning of those terms is unclear. They're marketing terms that are misleading and which do not allow an understanding of the extent to which environmental, social and governance factors will be monitored.
These practices are almost commercial in nature. As long as there are no clear rules of the game for everyone, there will continue to be marketing-type communication strategies with no impact.