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Are directors next to feel the greenwashing heat?

As published in www.fssustainability.com.au

On February 28th, 2023, the Australian Securities and Investments Commission (ASIC) did something it had never done before, and the entire financial services industry is watching.

ASIC announced that it had commenced civil penalty proceedings against Mercer Investments (Australia) Limited (Mercer) for allegedly engaging in greenwashing.

The path of the escalation is not new, it’s the next steps that will have industry participants on edge. What should directors be concerning themselves with right now? And what about external investment managers with contractual obligations to implement ESG claims?

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