REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsLONDON, Oct 3 (Reuters) - The number of instances of greenwashing by banks and financial services companies around the world rose 70% in the past 12 months from the previous 12 months, a report on Tuesday showed.
European financial institutions accounted for most of those instances, and much of the greenwashing involved claims about fossil fuels.
"Over 50% of these climate-specific greenwashing risk incidents either mentioned fossil fuels or linked a financial institution to an oil and gas company.
The European Banking Federation did not respond to a request for comment on the increasing number of greenwashing incidents found by RepRisk.
The banking and financial services industry is second only to oil and gas for the number of greenwashing incidents, RepRisk said.
Persons:
Stephanie Lecocq, RepRisk, greenwashing, Tommy Reggiori Wilkes, Mark Potter, Jan Harvey
Organizations:
La Defense, REUTERS, UK Finance, European Banking Federation, watchdogs, Thomson
Locations:
Paris, France