What is Greenwashing?

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About Greenwashing:

What is it?

It is the process of conveying a false impression or misleading information about how a company’s products are environmentally sound.
Greenwashing involves making an unsubstantiated claim to deceive consumers into believing that a company’s products are environmentally friendly or have a greater positive environmental impact than they actually do.
In addition, greenwashing may occur when a company attempts to emphasize sustainable aspects of a product to overshadow the company’s involvement in environmentally damaging practices.
Companies can also greenwash initiatives with vague claims that don’t provide real data or scientific validation for the claims.
For example, a car vendor claims that a vehicle is eco-friendly because it is more fuel-efficient, while failing to mention or consider the larger industrial impact of vehicle manufacturing on the environment.

What is the International Sustainability Standards Board (ISSB)?

It was created in 2021-22 to develop a worldwide standard for sustainability reporting.
It is part of the independent International Financial Reporting Standards (IFRS) foundation, which also writes accounting rules used in more than 100 countries.
The mission of the ISSB is to develop—in the public interest—a comprehensive global baseline of high-quality sustainability disclosure standards to meet investors’ information needs.

Q1) What is the International Sustainability Standards Board (ISSB)?

It was created in 2021-22 to develop a worldwide standard for sustainability reporting. It is part of the independent International Financial Reporting Standards (IFRS) foundation, which also writes accounting rules used in more than 100 countries.

Source: New rules aim to clamp down on corporate greenwashing