The Green Claims Code - Unlocking the UK's Path to Transparent Environmental Advertising!

The Green Claims Code - Unlocking the UK's Path to Transparent Environmental Advertising!

Let's get down to the sustainability news of the week. Another edition of the Greenifs newsletter is here. 🌎 Let's explore the greenwashing regulations of the UK - one of the fiercest greenwashing fighting countries in the world.🔥

The Green Claims Code

The primary source for greenwashing compliance in the UK - the green claims code was recently updated. The Green Claims Code is one of the datasets being used by the to filter your marketing texts are free of greenwashing.

What you need to know to not be accused of greenwashing in the UK:

  • claims must be truthful and accurate.
  • claims must be clear and unambiguous.
  • claims must not omit or hide important relevant information.
  • comparisons must be fair and meaningful.
  • claims must consider the full life cycle of the product or service.
  • claims must be substantiated.

Failing to meet these criteria can attract financial liability for the company of 10% of its yearly global revenue! 💸

The FCA (UK Financial Conduct Authority) has also put forth new recommendations and rules that will impose even stricter measures for companies.

New sustainable product labels will be present with three tiers distinguishing their companies commitment to sustainability. Concrete goals and steps to reach them will need to be outlined to get the labels

Restrictions for the use of terms as ‘ESG’, ‘green’ or ‘sustainable' for products that do not meet the sustainable investment product label criteria.

💡Helpful tip from an industry leader

According to Nanuk Asset Management chief T. King:

The term ESG simply creates confusion and chance for misinformation. Companies that have low carbon emissions are different from companies with low transition risk or companies with better governance structures. These are all distinctive things and shouldn't be combined into one. In fact, the way legislation’s evolving, it seems pretty clear to me that beyond the phase of your code of conduct, you’ve got cases now in the superannuation industry that make it pretty clear that things like climate risk are risks that need to be considered.

🐙Fun and interesting facts:

🐐Have you heard about the Goats of Llandudno?

In the midst of the COVID-19 lockdowns in 2020, with humans tucked away in their homes, a herd of Kashmiri goats in the seaside town of Llandudno, Wales, found a newfound freedom. Usually confined to the nearby Great Orme, a limestone headland on the north coast of Wales, the goats decided to explore the quiet town.

The goats started to wander around the empty streets, munching on hedges and flowers in people's gardens, causing light-hearted havoc and providing some much-needed relief and entertainment to the town’s residents and to the online spectators watching from around the world. This event showed us the resilience of nature when human activity diminishes.

Thank you and see you next week!👏