Greenwashing means conduct and activities that make people believe that an organization is doing more to protect the environment than it truly is. The term originated during the 1980s to portray the conduct of organizations that professed to be harmless to the environment but, in reality, had incomplete records.
The Competition and Markets Authority (CMA), which intends to keep enormous organizations from taking advantage of customers with strategies like inflated pricing, noticed in November 2020 that £41 billion had been spent on ethical goods and services by consumers in the UK 2019.
They said that such a demand for eco-friendly goods is alarming. Some companies can take advantage of this and make deluding, ambiguous, or bogus statements about their items, like their environmental impact.
According to tot the report released by CMA on this issue, around 40% of firms can be misleading about being environmentally friendly, and a “Green Claims Code” was published in September 2021 to assist businesses to conform with the laws having six principles which every company needs to fulfill and the time till New Year 2022 was given to companies to ensure that their claims being environment friendly comply with the laws.
The brands advertising their products as eco-friendly are under examination by the UK’s competition watchdog, especially textiles and fashion, travel and transport, and food and beauty products industries. We hope that you’ll find this news interesting. For more latest news subscribe to the latest news updates.