State PCS

Edit Template
Edit Template

Green washing

The United Nations Secretary General has warned private corporations to desist the practice of Greenwashing.

Why in News?

Recently, the United Nations Secretary General has warned private corporations to desist the practice of Green washing and mend their ways within a year.

  • The general has also directed to set up an expert group solely to look into the practice.

About Greenwashing

  • What is it? It is the process of conveying a false impression or misleading information about how a company’s products are environmentally sound.
  • Greenwashing involves making an unsubstantiated claim to deceive consumers into believing that a company’s products are environmentally friendly or have a greater positive environmental impact than they actually do.
  • In addition, greenwashing may occur when a company attempts to emphasize sustainable aspects of a product to overshadow its involvement in environmentally damaging practices
  • Companies can also greenwash initiatives with vague claims that don’t provide real data or scientific validation for the claims.
  • For example, a car vendor claims that a vehicle is eco-friendly because it is more fuel-efficient, while failing to mention or consider the larger industrial impact of vehicle manufacturing on the environment.

What is the International Sustainability Standards Board (ISSB)?

  • A worldwide standard for sustainability reporting was created in 2021-22.
  • It is part of the independent International Financial Reporting Standards (IFRS) foundation, which also writes accounting rules used in more than 100 countries.
  • The mission of the ISSB is to develop—in the public interest—a comprehensive global baseline of high-quality sustainability disclosure standards to meet investors’ information needs.

Way Forward

  • We must not allow corporations pursuing net zero targets to make fresh investments in fossil fuels.
    • They must also be asked to present short-term emission reduction goals on the path to achieving net zero.
  • Corporations should also use offset mechanisms at the start of their journey to net-zero status.
  • We should focus our priority on creating regulatory structures and standards to monitor greenwashing.

Read also:- Cyclones in India : Mocha

Demo Class/Enquiries

blog form

More Links
What's New
IAS NEXT is a topmost Coaching Institute offering guidance for Civil & Judicial services like UPSC, State PCS, PCS-J exams since more than 10 years.
Contact Us
Social Icon

Copyright ©  C S NEXT EDUCATION. All Rights Reserved