European Parliament Passes Law to Stop False Environmental Claims by Companies
Published: 2024-01-18The European Parliament passed a law to stop companies from lying about being environmentally friendly. They can’t use labels like “natural” or “biodegradable” unless they can prove it. This helps protect people from being tricked by false advertising.
The law also deals with greenhouse gas emissions. Companies can’t trick customers with plans that claim to reduce pollution but don’t. This stops companies from fooling people with fake promises of being environmentally responsible.
Other groups are also trying to promote sustainability. Neiman Marcus Group (NMG) and the Fashion Scholarship Fund (FSF) are working together to invest in a sustainable future. They’re giving $10,000 scholarships to 10 college students studying sustainable and ethical fashion. This helps support the next generation in making the fashion industry more sustainable.
The Advertising Standards Council of India (ASCI) has made rules to stop misleading environmental claims in ads. Brands can’t say they’re “environment friendly” or “sustainable” unless they have proof. The rules also stop misleading claims about a product’s life cycle and harmful ingredients.
In the financial world, Telefónica has promised to support sustainable financing. They raised €1,750 million with a green bond that was popular with investors. The money will be used for projects that make Telefónica’s networks more energy efficient and use more renewable energy. This helps Telefónica reach its goal of having 40% of their funding connected to environmental, social, and governance (ESG) standards by 2026.
These recent changes show that people are becoming more aware of and committed to stopping false environmental claims. Governments, organizations, and consumers are demanding that companies be honest and responsible. As consumers, it’s important for us to pay attention and learn about the environmental claims companies make so we can make smart choices that help the planet.
https://www.theverge.com/2024/1/18/24043066/european-parliament-outlaws-meaningless-environmental-claimsRelated news on 2024-01-18
- thehindubusinessline.com: ASCI releases final guidelines to prevent greenwashing in ads
- theverge.com: European Parliament outlaws meaningless environmental claims .
- streetinsider.com: Neiman Marcus Group and the Fashion Scholarship Fund Announce Recipients of Second NMG x FSF Scholarship
- totaltele.com: Telefnica issues a 1 . 75bn green bond