Green washing in the finance sector

Questions to the Mayor of London – answered on 24 January 2022.

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Photo of Zack Polanski Zack Polanski Green

Do you share my concerns about green washing in the finance industry? What work are you doing to encourage London businesses, particularly in the finance sector, to take up the Green Claims Code to combat this?

Photo of Sadiq Khan Sadiq Khan Mayor of London

For London to remain a leading centre of green finance, we need to ensure that the growth in environmental, social and corporate governance (ESG) investment which we have seen in recent years is accompanied by rigorous standards to hit net zero and avoid ‘greenwashing’. The City of London is fully committed to this agenda and last year, a poll of global institutional investors showed that London is leading the world in acceleration and adoption of the ESG agenda.