PwC Switzerland – Greenwashing and greenwishing

Driven by a regulatory tsunami and an ever-growing investor demand for solutions towards sustainable development, sustainability has found its way into the core businesses of financial institutions which have largely started to recognise sustainability not only as a risk, but also as an opportunity. The growing appetite for sustainable financial solutions, however, paired with the complexity of regulations comes with the risk of financial institutions misleading clients and investors about the (un)sustainable characteristics of their financial products and services. This so-called ‘greenwashing’ comes in many different forms – including ‘greenwishing’, when financial institutions truly believe in ESG but fail to achieve the communicated and…

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