Does a rise in 'greenbleaching' warrant new regulation?

On 16 March 2023, the Securities and Markets Stakeholder Group (SMSG), an advisory body to ESMA, published a paper issuing advice to ESMA on the topic of greenwashing.   The recommendations are provided in the context of the European Supervisory Authorities' (ESA) call for evidence on greenwashing published earlier this year - and stresses the need for a harmonized definition of the term greenwashing for the financial sector. It makes reference to various statements by the European Commission defining greenwashing as a violation of a consumer's need to be protected against information th...