Reported 2 months ago
Mercer Superannuation Australia Ltd. has been fined A$11.3 million ($7.3 million) after being found guilty of greenwashing by the Australian Securities and Investments Commission (ASIC). The court identified misleading marketing practices related to its Sustainable Plus product, which falsely claimed to exclude investments in fossil fuels, alcohol, and gambling while actually holding such investments. This case is part of a broader scrutiny on the Australian pension industry as it faces increasing pressure to substantiate environmental claims.
Source: YAHOO