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Reduction of the greenwashing risk: product classification, ESG data and rating…

Day 1 Afternoon

Wednesday 21 February

Room :



Paulina Dejmek-Hack
Director for General Affairs - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Public Authorities
Jos Heuvelman
Member of the Executive Board - Dutch Authority for the Financial Markets (AFM)
Stéphane Janin
Member of the Executive Board - AXA Investment Managers
Mark Uyeda
Commissioner - U.S. Securities and Exchange Commission (SEC)
Evert Van Walsum
Head of Investor Protection and Sustainable Finance Department - European Securities and Markets Authority (ESMA)
Industry Representatives
Thomas Béhar
Chief Financial Officer - CNP Assurances
David Henry Doyle
Vice President, Head of Government Affairs & Public Policy, EMEA - S&P Global
Fiona Melrose
Head of Group Strategy and ESG - UniCredit
Patricia Torres
Global Head of Sustainable Finance Solutions - Bloomberg


In its report of June 2023, ESMA underlines that greenwashing is the result of multiple inter-related drivers: insufficient availability of quality data, insufficient clarity of the regulation and of the information given by the suppliers of ESG funds to the investors.

Suspicions of greenwashing seem to have been less in the headlines in 2023, after many controversies in 2022. One reason may be that the financial sector has been more cautious in its disclosures, maybe at the price of doing what has been called « green hushing », i.e., preferring to be over-cautious about possible green disclosures.

The Roundtable will review the recent evolution of greenwashing controversies, eventual progress in financial product naming and financial product classification and will answer the following main questions:

Points of discussion

  1. Is the implementation of taxonomy and CSDR in the EU and ISSB standards at the international level a game-changer to prevent greenwashing?
  2. Do the new EU regulation on the ESG rating agencies and the progressive reform of ESG labels (recently the ISR label) help? Is it necessary to regulate ESG data providers?
  3. What are the priorities in Europe and in the rest of the world to make progress in the fight against greenwashing?