Green Wash

Abstract

Greenwashing is designed “to make people believe that your company is doing more to protect the environment than it really is.” Greenwashing is a marketing gimmick intended to create an illusion of assumed ecological obligation. There are several definitions of greenwashing. Experts have identified seven sins of greenwashing detailed herein below. The significant importance of green finance in facilitating the attainment of the set out goals of sustainable economy can hardly be undermined. Absence of a consensual definition of ‘what is green’ has been acting as an obstacle to scaling up green finance. Green finance taxonomies have the potential to play a significant role in scaling up the volume of green finance and in consummation of Paris Accord and in attaining the sustainable development goals set out by the UN. A well-defined and interoperable green taxonomy facilitates green finance to grow faster and sub-serve the process of attainment of environmental and sustainability goals. In the midst of fast happening structural changes in financial market there is urgency to ensure greater transparency and integrity therein if formation of green bubble is to be avoided.