The UK's Financial Conduct Authority is proposing guidance for firms making sustainability claims in their promotional material, to avoid exaggerated and misleading messages. This includes situations where non-FCA authorised firms are getting promotions approved by FCA-authorised firms. The guidance will be finalised in Q1 2024, to take effect with the anti-greenwashing rule on 31 May 2024.
References to 'sustainability' must be:
- Correct and capable of substantiation;
- Clear and presented so as to be understood;
- Complete and not omit/hide key information;
- Take into account the full lifecycle of the product;
- Fair and meaningful in relation to any comparisons made.