Australian court finds Vanguard Investments Australia guilty of greenwashing in ESG fund marketing.
Australian court rules Vanguard Investments Australia breached the law by making misleading claims about environmental, social, and governance (ESG) exclusionary screens in its Vanguard Ethically Conscious Global Aggregate Bond Index Fund. This marks ASIC's first greenwashing court outcome, emphasizing their commitment to tackling misleading marketing and greenwashing claims made by companies within the financial services industry. The court will consider the appropriate penalty for Vanguard's conduct at a hearing on August 1st.
March 28, 2024
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