Super fund slapped with $10.5 million greenwashing fine

Super fund fined $10.5 million in Federal Court for 'greenwashing'

Federal Court fines Active Super $10.5m for greenwashing, deceiving members about coal and Russian investments.

Super fund slapped with $10.5 million greenwashing fine

An Australian super fund has been hit with a $10.5 million penalty for greenwashing.The Federal Court found Active Super, formerly known as Local Government Superannuation Scheme, misled members and potential members by saying it had eradicated investments in gambling, coal mining and oil tar sands.The fund also claimed to have eliminated Russian investments following the country's invasion of Ukraine.READ MORE: 'Possibly shocking': Court twist …

Aussie pension fund hit with greenwashing penalty

Fund held securities, including oilsands companies, that it said were screened out The post Aussie pension fund hit with greenwashing penalty appeared first on Investment Executive.

Australia Court Fines Active Super A$10.5 Million for Greenwashing ESG Investing Claims

A federal court in Australia imposed a A$10.5 million (USD$6.7 million) penalty on superannuation fund Active Super trustee LGSS, after finding that the firm had engaged in greenwashing by continuing to invest in securities in areas that it had claimed to eliminate for environmental or social reasons. The ruling follows the filing of a suit in 2023 by Australia’s corporate, markets, and financial services regulator, the Australian Securities & I…

Australia's Active Super hit with $6.7 million penalty for false environmental claims

Australia's Federal Court has directed superannuation fund Active Super to pay a penalty of A$10.5 million ($6.70 million) for making misleading claims about its environmental credentia.... View detail at: Australia's Active Super hit with $6.7 million penalty for false environmental claims)

​​Australia Fines Active Super A$10.5M for Misleading ESG Claims

Impakter ​​Australia Fines Active Super A$10.5M for Misleading ESG Claims Today’s ESG Updates Active Super Fined A$10.5M for Greenwashing – Australia’s Court penalized Active Super for misleading ESG claims, retaining investments in coal, oil, and gambling. EU Pledged €2.5B for Syria’s Recovery – The EU committed €2.5B to support Syria, aiding transition and socio-economic recovery. AIB Raises €500M for Green Projects – AIB secured its […] The p…