ASIC Launches first greenwashing court action
The Australian Securities and Investments Commission (ASIC) is launching its first court action on alleged greenwashing against Mercer Superannuation (Australia) Ltd for misleading statements about its "sustainable investments".
This is the first time ASIC has taken action against a company labelling investments sustainable despite investing in fossil fuel companies, gambling entities and alcohol makers.
In response to the case, the Ethical Advisers' Co-op, supported by Ethinvest, produced an ad, "Escape the Greenwash," to showcase investment experts dedicated exclusively to ethical and impact investments.
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