DSI and EY are hosting a roundtable on greenwashing | Part II Posted on October 4, 2023 at 10:29 am.Written by Roeland Jongejan Challenges in Marketing and Communication In 2023, DSI and EY are joining forces to organize a series of exclusive roundtable meetings focused on the timely topic of greenwashing and how the financial sector is addressing it. Our goal is to facilitate a constructive dialogue among policymakers from various sectors, discussing recent developments and their impact on investment practices. Defining greenwashing: compliance and legal aspects Our first meeting, held in June, focused on the compliance and legal aspects of greenwashing. Participants in this session extensively discussed the current definition of greenwashing and how different organizations interpret this concept. A key talking point was an article published by ESMA on June 1st, exploring the definition of greenwashing through various articles. Marketing and communication challenges In our second meeting on September 13th, a new group of specialists discussed the marketing and communication challenges associated with greenwashing. The session began with an introduction and the establishment of objectives. We then engaged in open discussions on various topics. We started by critically examining the current definition of greenwashing and reflecting on its interpretation by participating organizations. Next, we focused on how an excessive emphasis on commercial incentives can lead to greenwashing. We explored why greenwashing exists in the first place and how organizations and professionals can become involved in this phenomenon. We also discussed the challenges this presents for marketing professionals in carrying out their work. Moral and ethical considerations in the financial sector Moral and ethical considerations related to greenwashing were extensively discussed. We examined the differences in ethical perspectives on ESG between investors and institutions offering investment products. We pondered why there is a difference in understanding and whether the financial sector itself should establish concrete frameworks to provide clarity and maintain trust. Effective communication of ESG performance Another important point of discussion was how to effectively communicate a company’s ESG performance. We had extensive discussions on how this can be done transparently and accurately. Participants shared numerous practical examples where ESG performance was honestly and clearly communicated to investors. The final part of the meeting focused on creating awareness within organizations about greenwashing. We discussed how to ensure that this topic is on the agenda at all levels of an organization. Attendees shared valuable best practices. Upcoming session: greenwashing from an investment perspective It’s important to note that there will be one more session on Greenwashing in October, this time from an investment perspective, with investment specialists. The findings and insights from these three meetings will be compiled into an informative whitepaper to be shared on our website. Contact Information For more information about these inspiring meetings, please contact Floris Mreijen, the director, and/or Mark van der Lecq, the lead legal at DSI.
DSI and EY are organizing a roundtable discussion on Greenwashing Posted on August 25, 2023 at 9:11 am.Written by Roeland Jongejan DSI and EY are joining forces in 2023 to organize a series of exclusive roundtable meetings, focusing on the current topic of greenwashing and how the financial sector is addressing it. Our goal is to facilitate a constructive dialogue among policymakers from various sectors, discussing recent developments and analyzing their impact on investment practices. The discussion will revolve around the moral and ethical considerations related to greenwashing. The valuable insights derived from these meetings will be compiled and presented in an informative white paper by the end of the year. Greenwashing from different perspectives The first meeting took place on June 7th at Beursplein in Amsterdam, with a focus on compliance and legal aspects. This session brought together professionals from risk, legal, and compliance domains of various DSI participants. After an introduction and setting the meeting’s objectives, open discussions covered various topics. Firstly, the current definition of greenwashing was critically examined. What does this term precisely entail, and how do the present organizations interpret this theme? We reflected on an ESMA article published on June 1st that explores the definition of greenwashing based on various articles. Current regulation surrounding greenwashing Subsequently, our attention turned to the current regulations. Greenwashing is addressed through several European sustainable finance regulations. Together, we discussed how organizations navigate this complex set of rules. How do they implement these guidelines, and which regulations have the most significant impact on their operations? Moral and ethical considerations regarding greenwashing were also extensively discussed. We explored the differences in ethical standpoints on ESG between investors and institutions offering investment products. Why does such a disparity in understanding exist, and should the financial sector itself establish concrete frameworks to provide clarity and maintain trust? Creating awareness about greenwashing within your organization The final part of the meeting focused on creating awareness about greenwashing within organizations. How can we ensure that this topic is on the agenda at every level of the organization? Attendees shared valuable best practices, which we will elaborate on in the white paper scheduled for publication at the end of the year. After the summer, DSI and EY will host two more sessions on Greenwashing, but this time from a different perspective, involving marketing and communication specialists, as well as investment experts. The findings from these three gatherings will be consolidated into an informative white paper, to be shared on our website. For more information about these inspiring meetings, feel free to reach out to Floris Mreijen (Director) and/or Mark van der Lecq (Lead Legal) by sending an email to certificering@dsi.nl.