Key Points
The Reserve Bank of India is looking to address the risks of greenwashing in financial services to boost market confidence on Environmental, Social and Governance (ESG) credentials...
While the number of investment products marketed as green or making wider sustainability claims is growing, exaggerated or unsubstantiated claims about Environmental, Social and Governance (ESG) credentials damage confidence in these products, RBI said.. Greenwashing is all about making misleading claims about ESG credentials to make consumers wrongly believe that a product is eco-friendly or has a positive environmental impact than they actually do...
The regulator on Thursday announced that it would be participating in a virtual TechSprint, hosted on the UK Digital Sandbox, which would bring together international regulators, firms, and innovators to address sustainable finance as a collective priority.. RBI is inviting all India based firms who are interested in participating in the TechSprint to apply..
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