illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:

🗞️ Driving the news: The UK’s Competition and Markets Authority (CMA) has closed its greenwashing investigation into Unilever after the company modified its environmental claims on certain products
• This investigation was part of a broader CMA effort to address potentially misleading green claims in consumer goods, with Unilever accused of overstating environmental benefits

🔭 The context: Initiated in December 2023, the CMA’s investigation found that some Unilever claims, such as vague descriptions of product sustainability and unclear recyclability information, could mislead consumers
• As part of the probe, the CMA developed a "Green Claims Code" to help businesses make truthful and transparent environmental claims

🌍 Why it matters for the planet: Misleading green claims can erode consumer trust and undermine genuine sustainability efforts, making regulatory oversight crucial in fostering honest communication around environmental impacts

⏭️ What's next: The CMA will continue monitoring the consumer goods sector for greenwashing practices, aiming to establish a precedent that encourages transparency and accountability in corporate environmental claims

💬 One quote: “The CMA’s Green Claims Code and successful enforcement action… has helped businesses understand how they can promote their green credentials whilst staying on the right side of the law,” stated the CMA

📈 One stat: A recent CMA study found that up to 40% of green claims made by UK businesses could be misleading, prompting regulatory actions to address potential greenwashing across various sectors

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