RepRisk Reveals Global Decline in Greenwashing, Swiss Cases Rise

New research by RepRisk, a leader in ESG data technology, shows a 12% global decrease in companies linked to greenwashing as of June 2024. This marks the first decline in six years, attributed to heightened regulations and awareness of greenwashing consequences.

However, Switzerland bucks the trend with a 17.3% increase in companies involved in greenwashing, the highest among 13 analyzed markets. High-severity cases rose by 50% in Switzerland, aligning with a 30% global increase.

Interestingly, the Banking and Financial Services sector saw a 20% global decrease in climate-related greenwashing, despite a previous 70% rise. Yet, Swiss companies in this sector showed a 27.3% increase in greenwashing links.

Overall, repeat offenders remain a concern. In 2024, 30% of greenwashing-linked companies were also flagged in 2023. The ongoing need for stricter regulation and transparency is evident.