Greenwashing

Recent News Stories Highlighting Greenwashing and Environmental Concerns

Published: 2023-11-19

Consumers today want products and services that are good for the environment. But there’s a problem called greenwashing. Greenwashing is when companies lie about being environmentally friendly. Let’s look at some recent news stories about this issue.

1. Texas Board of Education Rejects Climate Change Textbooks: The Texas Board of Education, controlled by Republicans, said no to science textbooks for eighth graders that talked about climate change. They didn’t like the books because they suggested ways to fix climate change or because they were made by companies with an Environmental, Social, and Governance (ESG) policy. This decision makes us worry that people won’t understand climate change and how to stop it.

2. Fitch Ratings Talks About COP28 in Gulf Region: Fitch Ratings says the upcoming COP28 is important for the Gulf region to learn about sustainability. The UAE is a big issuer of sustainable bonds and has seen a lot of growth in ESG bonds. The event will bring more money to eco-friendly practices and Islamic finance, which is a big part of banking in the UAE.

3. Western Miners Raise Prices for EV Industry: Miners in the western part of the world are charging more money for lithium and graphite used in electric vehicles (EVs). They want to meet the demand for environmentally friendly materials that don’t come from China. Some people worry that customers won’t want to pay the higher prices, but others think companies will still buy because they care about having a good supply and materials that are good for the environment.

4. BHP Reaches Gender Balance Goal in Canada: Mining company BHP has reached its goal of having an equal number of men and women working at its Jansen potash mine project in Canada. More than 43% of the workers are women. BHP is the first company in the world to reach its goal of having 40% women and 40% men in its workforce by 2025. This is good because it shows that having more women in the workplace makes things better, like safety and how people feel about their jobs.

5. Wall Street Loses Interest in Sustainable Investing: Wall Street is not as interested in investing in sustainable things anymore. There are more rules to follow, interest rates are higher, and people are mad about it. Many funds that used to invest in environmental, social, and corporate-governance (ESG) things are closing or changing what they do. This shows that it’s hard to invest in sustainable things and that the industry needs to be more honest and accountable.

6. Recycling Problem in the USA: Recycling in the USA, especially for plastics, is in trouble. Lots of things meant for recycling end up in landfills. Plastics are especially hard because they have to be sorted by their recycling numbers and they change when they are recycled. China’s ban on taking recyclables from other countries has made things worse. We need to clean and sort recyclables better and use less single-use plastics to fix this problem.

7. Malaysian Pension Funds Like ESG Investments: Malaysian pension funds, KWAP and PNB, are interested in investing in things that are good for the environment and society. KWAP sees potential in ESG trends, and PNB wants to stop carbon emissions from causing problems. Both funds are looking at renewable energy, the “silver economy,” and food security, among other things.

Conclusion: As consumers, we need to be careful about greenwashing and lies. The stories we talked about show that we need more honesty, accountability, and education about the environment. By staying informed and supporting companies that really care about the environment, we can make the world better for future generations.

https://www.sacurrent.com/news/texas-board-rejects-many-science-textbooks-over-climate-change-messaging-33117910

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