An Australia-based energy company which is developing power projects in parts of Africa has become the first entity to be hit with compliance action by the corporate regulator for greenwashing.
The regulator announced a crackdown on greenwashing as part of its priorities earlier this year as consumers shift towards greener options. It warned on Thursday that a number of other listed companies, super funds and managed funds were also being investigated over their green claims. “ASIC was concerned that Tlou either did not have a reasonable basis to make the representations, or that the representations were factually incorrect,” the regulator said in a statement on Thursday.
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