statements . Today ’ s consumer is welleducated and well-briefed about climate issues , particularly carbon emissions , and by failing to take their obligations seriously fintechs could put themselves at risk of so-called ‘ greenwashing ’.
“ In a nutshell , greenwashing is the communication of unsubstantiated or exaggerated claims in relation to the sustainability of products and services ,” explains Ella Moore , Senior Strategist at brand agency Superunion . “ It ’ s driven by three major trends : an increased demand for , and growth of , sustainable products ; a lack of regulation , standardised definitions , disclosures , and metrics for sustainability ; and the poor availability and quality of data .
“ Misleading greenwash has the potential to influence investment and purchasing decisions , ultimately diverting meaningful change that we need ”
ELLA MOORE SENIOR STRATEGIST , SUPERUNION
“ Misleading greenwash has the potential to influence investment and purchasing decisions , ultimately diverting meaningful change that we need . The good thing is that regulators are increasingly sharpening their scrutiny , but with guidance on sustainability-related disclosures still in consultation across the UK and EU , brands are being left exposed .”
Moore says that there are various strategic , legal , regulatory and reputational ramifications if brands choose to try and greenwash their consumers .
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