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Reuters: Australian regulator files 'greenwashing' lawsuit against Vanguard Investment Australia
Australian regulator files 'greenwashing' lawsuit against Vanguard Investment AustraliaReuters
July 24, 20237:46 PM EDT
July 25 (Reuters) - The Australian corporate regulator on Tuesday filed a lawsuit against the local arm of U.S. investment giant Vanguard accusing it of "greenwashing".
The Australian Securities and Investments Commission (ASIC) alleged the company of misleading conduct about certain environmental, social and governance criteria applied to investments in its fund.
The corporate regulator has been stepping up action against Australian firms which it says exaggerated claims regarding eco-friendly investments and products, called "greenwashing".
"We consider that the screening and research undertaken on behalf of Vanguard was far more limited than that being promised to investors, and we consider this constitutes another example of greenwashing," the ASIC said in a statement.
…
July 24, 20237:46 PM EDT
July 25 (Reuters) - The Australian corporate regulator on Tuesday filed a lawsuit against the local arm of U.S. investment giant Vanguard accusing it of "greenwashing".
The Australian Securities and Investments Commission (ASIC) alleged the company of misleading conduct about certain environmental, social and governance criteria applied to investments in its fund.
The corporate regulator has been stepping up action against Australian firms which it says exaggerated claims regarding eco-friendly investments and products, called "greenwashing".
"We consider that the screening and research undertaken on behalf of Vanguard was far more limited than that being promised to investors, and we consider this constitutes another example of greenwashing," the ASIC said in a statement.
…
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