Advice to the European Commission on greenwashing : progress report

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<title>Advice to the European Commission on greenwashing</title>
<subTitle>: progress report</subTitle>
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<publisher>European Insurance and Occupational Pensions Authority</publisher>
<dateIssued>2023</dateIssued>
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<abstract displayLabel="Summary">This report provides initial findings on greenwashing and outlines the progress made so far. Greenwashing has a substantial impact on insurance and pension consumers  as it can deceive consumers into buying products that are not aligned with their preferences  and on insurance and pension providers  as they might suffer significant reputational damage when the general public is informed about a greenwashing occurrence. Throughout the different stages highlighted in the report, potential examples of greenwashing are included to show how greenwashing can occur in practiceWhile the European Union (EU) has been at the forefront in setting up a regulatory framework tackling greenwashing, there are a number of shortcomings, inconsistencies and gaps in the framework, highlighted by feedback received in the context of EIOPA's various data-gathering exercises. This report lists some of the key and preliminary issues which will be further expanded  given the current evolution and recent application date  in next year's final report which will also include concrete recommendations</abstract>
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