Greenwashing Techsprint


Facts for Prelims: Greenwashing Techsprint

News: The Reserve Bank of India (RBI) has joined forces with the Global Financial Innovation Network (GFIN) to participate in the Greenwashing TechSprint.

About Greenwashing Techsprint:

→ GFIN’s 1st ever Greenwashing TechSprint brings together 13 international regulators, (including RBI), along with firms and innovators to address the priority of Environmental, Social, and Governance (ESG) issues and mitigate the risks of greenwashing in financial services.

→ The objective of TechSprint is to develop a tool that can help regulators and the market effectively tackle the deceptive practice of greenwashing.

What is Greenwashing?

 It is practice of making exaggerated, misleading, or unsubstantiated claims about the environmental benefits of a product, service, or investment opportunity. Greenwashing can mislead investors and consumers and harm the overall goal of promoting sustainable finance

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