EIOPA's Progress Report on Greenwashing - Advice to the European Commission

The European Commission (EC) asked EIOPA alongside the two other European Supervisory Authorities (ESAs) to provide advice, for the sectors within their respective remit, on:

• Defining greenwashing;
• Instances, occurrences and complaints relating to greenwashing;
• Supervision of greenwashing, including challenges thereof;
• The status of implementation of sustainable finance related legislation;
• Gaps, inconsistencies, and issues in the current legislative framework which could lead to possible greenwashing.

As per the mandate, this report provides initial findings on greenwashing and outlines the progress made so far. A final report with definitive conclusions will be finalised in May 2024.