GC23/3: Guidance on the anti-greenwashing rule

Consultation open
28/11/2023
Consultation close
26/01/2024
26/01/2024

We are consulting on new guidance on our expectations for FCA-authorised firms making claims about the sustainability of a product or service.

Read GC23/3 (PDF)

Why are we consulting

Consumers are increasingly demanding more sustainable products and services. As a result, there has been a growing number of products and services which claim to meet that demand.

As this demand continues to grow, so does the risk of ‘greenwashing’ as there are concerns that some of these claims may be exaggerated and misleading.

All sustainability-related claims made by FCA-authorised firms about their products and services must be fair, clear and not misleading, as our anti-greenwashing rule sets out.

This proposed guidance is designed to help firms better understand our expectations under the anti-greenwashing rule and other existing, associated requirements.

Who this is for

This will be of interest to:

  • All FCA-authorised firms
  • Industry groups and trade bodies
  • Consumer groups and consumers
  • Policymakers and other regulatory bodies
  • Industry experts and commentators
  • Academics and think tanks
  • Stakeholder advocacy groups

Next Steps

This consultation has now closed.

We will review all responses to this consultation and, subject to the views received, intend to publish the finalised guidance in early 2024.

Background

Consumers are increasingly demanding more sustainable products and services.  As a result, there has been a growing number of products and services which claim to meet that demand.

As this demand continues to grow, so does the risk of ‘greenwashing’ as there are concerns that some of these claims may be exaggerated and misleading.

Addressing greenwashing can improve consumer confidence and trust, and enhance the transparency, credibility and integrity of markets.

We have worked closely with the Competition and Markets Authority and Advertising Standards Authority to ensure our proposed guidance to the anti-greenwashing rule is consistent with their guidance and requirements.

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