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ASIC will tighten its scrutiny of greenwashing as part of the Labor government's crackdown on protecting investors against investment scams and other misconduct from product issuers.
The naming of ESG funds could be a hindrance to flows as growing regulatory enforcement action against greenwashing prompts investors to seek out those funds that “fly under the radar” about their credentials.
Future Super paid an almost $10,000 penalty to Australian regulators in April for a "misleading" social media post.
Overstating a $400 million positive environmental impact.
Future Super is the latest Australian company to be fined by ASIC for 'greenwashing'. The $13,000 fine was issued over a Facebook post.