BCLP Partner with the Association of Foreign Banks on Greenwashing Risks and Litigation Webinar
With corporate disclosure requirements focussing more and more on climate change impacts, and customers demanding ever more sustainable services and products to burnish their green credentials, pressure can build for a company to make attractive claims or statements in its external messaging regarding environmental performance that go beyond what can be substantiated.
Making such claims comes with risk. Litigation relating to greenwashing is starting to gain traction across a number of jurisdictions, and companies need to take steps now to avoid a situation in the future where they are pursued directly for a false claim, or being drawn in to litigation targeted at the alleged greenwashing of others with whom they deal.
BCLP recently collaborated with the Association of Foreign Banks (AFB) on a virtual seminar exploring the risks and litigation associated with Greenwashing. A cross-practice and cross-office team including Partners Aidan Thomson, Doug Thompson, Élodie Valette and Ravi Nayer presented on the topic and provided insights from around the globe, focusing on the UK, EU and US. They provided:
- An overview of the legal frameworks that apply to statements made about environmental performance.
- A summary of the emerging greenwashing litigation and litigation risks across a range of jurisdictions.
- An overview of the nature of greenwashing litigation to which banks might be exposed.
- Examples of risks arising directly to Banks and those which may arise through disclosure and operations of its customers, business affiliates and suppliers.
At BCLP, we are proud supporters of the AFB’s work and are currently partnering with AFB on their 2022 CEO Programme; an exclusive and carefully curated programme of events open only to the CEOs and branch managers of the AFB’s member banks. Next year, we will again be delivering our Senior Manager’s Development Programme to AFB members and we continue to deliver bespoke training to AFB members on an ad hoc basis.
The AFB is a membership organisation representing the voice and championing the success of foreign banks operating in the UK, with around 200 international banking group members. The organisation represents about 75% of the UK’s foreign banking market.
This document provides a general summary and is for information/educational purposes only. It is not intended to be comprehensive, nor does it constitute legal advice. Specific legal advice should always be sought before taking or refraining from taking any action.