Hey again! 👋
We'd like to begin this week's Greenifs newsletter with a huge thank you for your continued dedication to sustainable progress. We're committed to making a difference and holding industries accountable for their green claims and you are an integral part of making this a reality.🙏
In a study conducted by the SRSC, out of 122 green claims across 17 sectors in a 24-hour period, but they also found that only 31 per cent of those claims had any supporting evidence or verification. Let's explore several notable greenwashing examples and the effects it had on the companies that committed it.
☝️ Our first instance comes from the world of technology. Renowned for its innovation and sleek designs - ParagonCorp. In 2022, they launched a campaign promoting their new line of laptops as "100% eco-friendly." However, investigations revealed that while they used recycled materials for the casing, the electronic components contained conflict minerals sourced from regions associated with environmental degradation and human rights abuses.
✌️In the food industry, global chain FoodFest made headlines when they announced plans to "go green" by 2025. Their promises included reducing greenhouse gas emissions, eliminating single-use plastics, and sourcing all ingredients from sustainable farming. Despite their campaign's grandeur, an independent audit in late 2022 found that the company had made minimal actual progress. Their green commitments, far from being achieved, were merely embellishments to enhance their public image. FoodFest's stock dropped significantly after the report's release, demonstrating the substantial business risks associated with greenwashing.
💀Finally, let's examine the case of EcoTrend , a leading multinational manufacturer of household products. They launched a range of "green" cleaning supplies with labels with images of pristine nature and the phrase "Protect Our Earth." However, it was later discovered that EcoTrend's products contained harmful chemicals and non-biodegradable components. Not only did this spark outrage among their customer base, but it also led to a significant drop in sales and legal actions for false advertising that are still being dealt with.
Why do we talk about this?🤷
As these examples illustrate, greenwashing causes real consequences, for both the companies involved and the wider environment. Our mission at Greenifs remains to ensure transparency in green claims and helping protect companies from accidentally posting material with greenwashing. Test if your claims align with the international green marketing guidelines. The first checks are on us!
Fun and interesting fact. 🦙
Let's recount the tale of Pseudogreen - an ironic producer of 'eco-friendly' garden furniture, ran a gag marketing campaign claiming their plastic lawn chairs were "made entirely from recycled dinosaur fossils." As it turned out, paleontologists and netizens alike found the campaign hilarious. The phrase "recycled dinosaur fossils" quickly became a meme, PseudoGreen became a social media spotlight, the phrase was a hit, however it didn't translate into sales. The campaign backfired spectacularly, prompting laughter instead of purchases. Not all publicity turns out to be good, especially when you're greenwashing.
That's it for now! See you next week!