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Hot Topic - Greenwashing
The ACCC has launched a review of over 200 company websites to identify misleading or deceptive environmental and sustainability claims as part of a focus on so called "green washing" claims in Australia. In this article we provide some background to the ACCC review and highlight potential strategies for Australian businesses to mitigate the risks of regulatory scrutiny.
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Eco-fashion" and "sustainable fashion" have become buzzwords amongst fashion retailers in recent years, as consumers have become increasingly aware of sustainability concerns. Shoppers are regularly searching for more environmentally friendly shopping options – a 2021 government survey demonstrated that 52 per cent of UK consumers based their purchasing decisions on a brand's eco-credentials. As a result, fashion brands have been quick to highlight to customers their ethical and eco-credentials, such as announcing initiatives to reduce carbon emissions, releasing "sustainable" ranges, and creating new roles for staff focused on sustainability issues. However, fashion brands, both in the luxury and "fast fashion" sectors, have historically been found to make environmental claims that could be seen as misleading, known as "Greenwashing". Regulators and analysts have been racing to curb exaggerated sustainability claims.
READ"Eco-fashion" and "sustainable fashion" have become buzzwords amongst fashion retailers in recent years, as consumers have become increasingly aware of sustainability concerns. Shoppers are regularly searching for more environmentally friendly shopping options – a 2021 government survey demonstrated that 52 per cent of UK consumers based their purchasing decisions on a brand's eco-credentials. As a result, fashion brands have been quick to highlight to customers their ethical and eco-credentials, such as announcing initiatives to reduce carbon emissions, releasing "sustainable" ranges, and creating new roles for staff focused on sustainability issues.
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In response to the conundrum of how high-end luxury brands can penetrate new markets and gain cultural capital, we look at a masterclass From Balenciaga and Fortnite
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On March 24, 2022, Utah Governor Spencer Cox signed the Utah Consumer Privacy Act into law, making Utah the fourth state to pass a comprehensive consumer privacy law. The Act goes into effect on December 31, 2023
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Shaping the future regulation of the market
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Are we any closer to EU institutions reaching an agreement on the final regulation text? Whilst the rules stemming from the ePrivacy Regulation proposal are not expected in the near future, its one-year anniversary offers an opportunity to recall the key changes that stakeholders could, - and should - already anticipate.
READUpcoming events
This session will look at the global development of regulatory frameworks for AI, including emerging trends and diverging approaches being taken in different jurisdictions. This will include the EU’s AI Act, US developments at federal and state level, the UK perspective and the measures being taken in China to tackle regulation of generative AI and deepfakes.
Time: 08:00 EDT / 13:00 BST / 14:00 CEST / 20:00 HKT
To Register, please complete the online registration form.
Video recordings Video recordings are available following each session and can be accessed on the Clifford Chance Client Portal and the Financial Markets Toolkit.
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