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Laxman Pai, Opalesque Asia: The EY 2024 Institutional Investor Survey revealed that more than four out of five investors surveyed for the research (85%) say that greenwashing and similarly misleading statements about companies' sustainability performance is a greater problem compared with five years ago.
Investors' current concerns about greenwashing appear to be validated by the 2024 EY Global Corporate Reporting Survey, which found that companies have doubts about the credibility of their nonfinancial reporting.
More than half (55%) of finance leaders surveyed for that study felt that sustainability reporting in their industry risks being perceived as including elements of greenwashing.
While 88% of investors surveyed have increased their use of ESG information, 92% worry that ESG-related initiatives harm short-term corporate performance.
Despite the rise of sustainability reporting, 66% of investors say their institution is likely to decrease its consideration of ESG in decision-making.
Some 85% of investors say that greenwashing is a worsening problem - yet 93% seem confident that companies will meet their sustainability targets.
EY 2024 Institutional Investor Survey draws on the views of 350 investment decision-makers from institutions around the world, including asset management firms, wealth management firms, insurers, and pension funds.
The vast majority of respondents (88%) surveyed for the report say that their institution h...................... To view our full article Click here
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