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Restrict the use of terms ‘ESG,’ ‘green,’ ‘sustainable,’ UK financial regulator says

( October 25, 2022, 09:07 GMT | Official Statement) -- MLex Summary: The UK’s Financial Conduct Authority has said it wants to restrict how terms such as “ESG,” “green” and “sustainable” can be used as part of its plan to tackle greenwashing. Exaggerated, misleading or unsubstantiated claims about ESG credentials damage confidence in these products, the FCA said. “We are raising the bar by setting robust regulatory standards to protect consumers in line with our wider FCA strategy,” said Sacha Sadan, its director of Environmental, Social, and Governance. A consultation on the proposals is open until Jan. 25, 2023.Statement below and consultation attached. ...

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