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Global Securities Watchdog Targets Greenwashing in ESG Plan

Global Securities Watchdog Targets Greenwashing in ESG Plan Bloomberg 3/9/2021 Frances Schwartzkopff © Photographer: Chris Ratcliffe/Bloomberg Wind turbines operated by Vattenfall AB sit on a wind farm in Aggersund, Denmark. (Bloomberg) Global organizations that set corporate reporting standards failed to keep pace with the ESG boom, opening the door to greenwashing, mispricing and bubbles, according to one such group. Correcting the situation “will take some time,” said Erik Thedeen, chairman of the Sustainable Finance Task Force at the International Organization of Securities Commissions, whose members regulate more than 95% of the world’s securities markets. In the absence of global standards, an “alphabet soup of standards or semi-standards” has emerged that’s not “good enough,” Thedeen said by phone. “If we get reliable, comparable information with one set of standards, rather than different ones with different definitions, t

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