The sustainable investment industry is finally coming to grips with allegations of greenwashing that have plagued it for years.
The Global Sustainable Investment Alliance (GSIA), the worldwide umbrella organization for green investing, has adopted a new, more rigorous classification system, resulting in a leaner, slimmed-down count of what constitutes sustainable investment.
“It’s effectively taking a different definition of what counts as sustainable than we have used in the past,” says GSIA chair James Alexander. “We want to address greenwashing, and we’re doing our part.”
The new definitions were adopted in fall 2023 by the GSIA, which includes responsible investment associations in the U.S., U.K., Europe, Canada, Australia and Japan, along with the 5,000-member Principles for Responsible Investment network and the CFA (Chartered Financial Analyst) Institute, the global professional body for…
