Australia’s corporate regulator issues first fine for greenwashing

 
The Australian Securities and Investments Commission has fined Tlou Energy for making misleading statements to the ASX about its green credentials. 

The corporate regulator has issued its first penalty for greenwashing, fining Australian company Tlou Energy $53,280.

The Australian Securities and Investments Commission (ASIC) said Tlou, which was developing power projects in parts of Africa, had paid the total for four infringements for making alleged false or misleading sustainability-related statements to the ASX in October last year.

 

The regulator, along with the Australian Competition and Consumer Commission, has been cracking down on greenwashing, which is the practice of misrepresenting the extent to which a financial product or investment strategy is environmentally friendly, sustainable, or ethical.

This article was originally published on theguardian.com

 

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