en_US English
en_US English ja 日本語
  • Login
Sustainability Business Intelligence for Corporates and Financial Institutions
  • Home
  • Solutions
    • Carbon Accounting & Carbon Neutral Strategy
    • ESG, CSR, & Sustainability Reporting
    • Sustainability Strategy
    • ESG Regulatory Compliance
    • Portfolio Management & Reporting
  • Products
    • EPIC for Corporates
    • ZENO for Financial Institutions
  • Insights
    • ESG News
    • ESG Industry Reports
  • About Us
Request Demo
Seneca ESG
  • Home
  • Solutions
    • Carbon Accounting & Carbon Neutral Strategy
    • ESG, CSR, & Sustainability Reporting
    • Sustainability Strategy
    • ESG Regulatory Compliance
    • Portfolio Management & Reporting
  • Products
    • EPIC for Corporates
    • ZENO for Financial Institutions
  • Insights
    • ESG News
    • ESG Industry Reports
  • About Us
Request Demo
Seneca ESG

Australia’s Corporate Watchdog Issues First Fine for Greenwashing

by Seneca ESG
2023-09-20

The Australian Securities and Investments Commission (ASIC), Australia’s corporate watchdog, fined Tlou Energy [TLOU:LN] USD53,280 for greenwashing, or exaggerated claims about environmentally friendly initiatives, as reported by Reuters on October 27. This was the first time the regulator took action to punish greenwashing. Specifically, Tlou Energy claimed its electricity would be carbon-neutral, and that its gas power generation would be low-emission. The ASIC identified the claims as making alleged false or misleading sustainability-related statements. In response, the energy company insisted that it did not breach any rules, but still agreed to pay the fine to “bring this matter to an end and focus the company‘s resources on the development of its power projects”. 

The ASIC vows to crack down on greenwashing as misleading claims could undermine trust amid consumers’ growing interest in sustainable products. According to ASIC deputy chair Sarah Court, if enterprises want to promote their sustainability and green credentials, they must make sure they can support those statements and have a reasonable basis to do so. Court also disclosed that the ASIC is investigating some listed entities, super funds, and management funds over their green credentials claims. In June, the ASIC published guidance (INFO 271) for entities offering sustainability-related financial products to curb misrepresentations in promotional material, disclosure statements, and offerings that could be considered “greenwashing.”, as a supplement to the Australian company and competition law.

Sources:

https://www.reuters.com/business/environment/australian-regulator-slaps-first-greenwashing-fine-energy-firm-2022-10-27/

https://www.abc.net.au/news/2022-10-27/asic-issues-first-corporate-greenwashing-fine-tlou-energy/101587356

https://www.theguardian.com/environment/2022/oct/27/australias-corporate-regulator-issues-first-fine-for-greenwashing

https://www.whitecase.com/insight-alert/practical-guidance-avoiding-greenwashing-australian-response

Related

Tags: Csr Strategy Esg Reporting And TransparencyGreenwashingTlou Energy Tlouln

RELATED ARTICLES

World Bank, Brazilian State Bank Reach USD400m Collaboration in Amazon Recovery
2023-09-21

US Treasury Releases Voluntary Principles for Net-Zero Financing and Investment

2023-09-21
US Treasury Releases Voluntary Principles for Net-Zero Financing and Investment
2023-09-21

Mercedes-Benz to Buy 50,000 Tons of Low-Carbon Steel Annually from US Steelmaker

2023-09-21
World Bank, Brazilian State Bank Reach USD400m Collaboration in Amazon Recovery
2023-09-21

World Bank, Brazilian State Bank Reach USD400m Collaboration in Amazon Recovery

2023-09-21

Request ESG Software Demo

Email must be formatted correctly
Thank you for your interest in Seneca ESG. We will be in contact shortly.
Contact Us
Twitter
Linkedin

Start Using
The Seneca ESG Toolkit
Today

Monitor ESG performance in portfolios, create your own ESG frameworks, and make better informed business decisions.

Interested?
Contact us now!

In order to contact us please fill the form on the right or directly email us to the address below 

info@senecaesg.com

Our offices

Singapore Office

Seneca Technologies Pte. Ltd.
133 New Bridge Road #10-03
Chinatown Point,
Singapore 059413

Taipei Office

Seneca Technologies Pte. Ltd.
Taiwan 7/F, 77 Dunhua South Road, Section 2 Da’an District, Taipei City, Taiwan 106414
(+886) 02-2706 2108

Shanghai Office

Seneca (Shanghai) Ltd. 45 Nanchang Road, Suite 5D Shanghai, China 200020
(+86) 021 3330 0075

Sign up for our weekly newsletter

Get the latest global ESG policies, market developments, and use cases.

© 2023 • Seneca • All rights reserved

  • ESG, CSR, & Sustainability Reporting
  • ESG Data Collection and Management
  • ESG Scoring and Target Setting
  • ESG Report Writing (ISSB, GRI, SASB, TCFD, CSRD)
  • Sustainability Strategy
  • Materiality Assessment
  • ESG Ratings Analyses and Improvement
  • ESG Performance Analyses and Benchmarking
  • ESG Regulatory Compliance
  • Stock Exchange Reporting
  • EU Taxonomy Reporting (CSRD, SFDR, PAI)
  • Portfolio Management & Reporting
  • Portfolio Custom Scoring and Screening
  • Portfolio Analyses and Benchmarking
  • Product and Firm Level Regulatory Reporting (SFDR)
  • Carbon Accounting & Carbon Neutral Strategy
  • Carbon Inventory (GHG Protocol)
  • Based Target Setting (SBTi) Carbon
  • Carbon Neutral Strategy
  • About Us
Facebook-f Linkedin Twitter Weixin
© 2023 • Seneca • All rights reserved

© 2023 • Seneca • All rights reserved

Facebook-f Linkedin Twitter Weixin qr_code
  • ESG, CSR, & Sustainability Reporting
  • ESG Data Collection and Management
  • ESG Scoring and Target Setting
  • ESG Report Writing (ISSB, GRI, SASB, TCFD, CSRD)
  • Sustainability Strategy
  • Materiality Assessment
  • ESG Ratings Analyses and Improvement
  • ESG Performance Analyses and Benchmarking
  • ESG Regulatory Compliance
  • Stock Exchange Reporting
  • EU Taxonomy Reporting (CSRD, SFDR, PAI)
  • Portfolio Management & Reporting
  • Portfolio Custom Scoring and Screening
  • Portfolio Analyses and Benchmarking
  • Product and Firm Level Regulatory Reporting (SFDR)
  • Carbon Accounting & Carbon Neutral Strategy
  • Carbon Inventory (GHG Protocol)
  • Based Target Setting (SBTi) Carbon
  • Carbon Neutral Strategy
  • About Us
Facebook-f Linkedin Twitter Weixin

© 2023 • Seneca • All rights reserved

  • Home
  • Solutions
    • Carbon Accounting & Carbon Neutral Strategy
    • ESG, CSR, & Sustainability Reporting
    • Sustainability Strategy
    • ESG Regulatory Compliance
    • Portfolio Management & Reporting
  • Products
    • EPIC for Corporates
    • ZENO for Financial Institutions
  • Insights
    • ESG News
    • ESG Industry Reports
  • About Us
Request Demo

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In