The Silent Greenwash: How Lax ESG Assurance Undermines Corporate Trust
Let's assume a scenario!! A business releases an eye-catching sustainability report. Bold assertions of carbon neutrality. Excellent graphs showing lower emissions. There is a little issue though! 30% of companies accused of greenwashing in 2023 were found to have done so again in 2024. Even more concerning? Globally, the number of high-severity greenwashing incidents increased by 30%. Why does this continue to occur? It’s because an excessive number of ESG reports lack thorough third-party verification. The figures present a concerning image. According to 91% of consumers, at least some brands use greenwashing. It's more than a statistic. It's a crisis of trust, and your competitive advantage vanishes along with trust. The Assurance Gap: An Imminent Danger Let's be honest about our current situation. By 2020, just 46% of S&P 500 ESG reports included any assurance. This indicates that over 50% of significant corporate sustainability claims remain unsubstantiated....