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March 2, 2023

From regulatory fines to lawsuits: The Asic vs Mercer greenwashing case

By Seth O'Farrell
Fossil fuel extraction
Asic has alleged that seven of Mercer’s ‘sustainable plus’ options included investments in 15 fossil fuel extraction companies. (Photo: Juan Barreto/Getty Images)

In an unprecedented move, Australia’s financial regulator has resorted to the courts to tackle allegedly misleading ESG claims.

The Australian Securities and Investments Commission has launched legal proceedings against corporate pension fund Mercer Superannuation, as regulators globally grapple with what levers they should pull on to tackle greenwashing. 

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