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ASIC’s infringement notice against Vanguard for greenwashing, while disappointing, highlights the need for fund managers to ensure any statements about ethical propositions are accurate.

“Greenwashing is a major issue in our financial system, and so we welcome action taken by ASIC to crack down on misleading claims,” says EAC Director Tim Fitzpatrick.

“As ethical investment becomes increasingly mainstream, instances of what financial market regulators have called misleading marketing, poor product design and other types of greenwashing are certainly rising, regardless of whether it is intentional or not.”

This pervasive practice, by which funds falsely claim or exaggerate their environmental, social and governance (ESG) credentials, poses a major threat to the integrity and reputation of the investment industry.

This ‘Leaf Ratings’ analysis was accessed more than 12,500 times over 2021, reflecting an increased level of consumer awareness and concern about the genuine nature of their ethical and sustainable investments.

About Ethical Advisers’ Co-op
EAC advisers managed in excess of $2.72 billion of investment on behalf of their clients at the time of the 2021 annual report, a reflection of the growing demand by consumers for professional and ethical advice to select investments that truly conform to each clients’ ethical, environmental and sustainability values.

The EAC’s Leaf Ratings can be viewed here: 

For further comment please contact:

EAC Spokesperson:
Tim Fitzpatrick | EAC Director
Ph: 03 9853 0995 Mobile: 0402 216 926

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