Facts for Prelims (FFP)
Source: BS
Context: The Advertising Standards Council of India (ASCI), the advertising industry’s self-regulatory body, has introduced a 9-point draft of guidelines to combat “greenwashing” by companies.
What is Greenwashing?
About the Guidelines:
- Environmental claims like “environment-friendly,” “eco-friendly,” “sustainable,” and “planet-friendly” must have strong evidence to support them.
- Such claims should consider the full life cycle of the product or service.
- Certifications and Seals of Approval should specify the evaluated attributes.
- Assertions about a product being compostable, biodegradable, recyclable, non-toxic, or free of certain elements should be grounded in reliable scientific evidence.
Aim of the Guidelines:
The proposed guidelines aim to promote transparency and authenticity in advertising to help consumers make informed decisions. The public consultation on these guidelines is open until December 31.
Initiatives to check Greenwashing:
- International Sustainability Standards Board (ISSB),will set uniform sustainability and climate standards for companies to follow worldwide from 2024.
- SEBI’s Business Responsibility and Sustainability Reporting (BRSR) norms
- SEBI issued dos and don’ts relating to green bonds.
- RBI announced to join Global Financial Innovation Network (GFIN)’s Greenwashing TechSprint.
About ASCI:
The Advertising Standards Council of India (est. 1985; HQ: Mumbai) is a voluntary self-regulatory organization of the advertising industry in India. ASCI is registered as a non-profit company under section 25 of the Company Act.
