The Australian Securities and Investments Commission (ASIC) has marked the new year with its first regulatory “greenwashing” scalp.
ASIC successfully pursued Black Mountain Energy Limited, an energy company listed on the Australian Securities Exchange (ASX), for alleged false or misleading “greenwashing” representations that ASIC alleged arose from three of the company’s ASX announcements in 2021 and 2022.
This represents ASIC’s fourth infringement notice for alleged “greenwashing practices” in the last three months. ASIC's eagerness to take companies to task on their environmental credential claims is consistent with the regulator’s publicly stated aim of cracking down on corporations making unsubstantiated or false environmental credential claims.
