EU prepares to ban greenwashing
The European Union (EU) will prohibit labeling a product or service as ‘green’ to highlight its image as environmentally conscious without sufficient justification.
The European Parliament (EP) announced that an agreement has been reached with Member States on new rules that will be applied against false information and misleading statements, known as “greenwashing”, spread by a company to emphasize its responsible image with environment.
As a result, the EU’s list of prohibited business practices will be updated and misleading advertising on environmental claims will be banned.
Various general environmental claims, such as eco-friendly, natural, biodegradable, or climate and environment friendly, cannot be used without precise evidence to that effect.
NEW RULES ARRIVED
Sustainability labels that do not receive approved certification programs or are not created by public authorities will be prohibited. Products cannot be sold as if they are repairable even if they are not.
In an EU study on greenwashing, it was revealed that 53 percent of environmental claims made about products examined in member countries were vague, misleading or unfounded, and 40 percent were unverified.
The rules will come into force after official approval by the EP and member countries. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
