Somebody Has to Tell Them?

UK businesses have been warned that their 'greenwashing' may embed liabilities and increase risk for their investors (https://www.theguardian.com/environment/2022/jul/04/environment-agency-chief-hits-out-at-greenwashing-by-businesses-emma-howard-boyd). The Chair of the UK Environmental Agency has spelled out this danger in a presentation to the UK Centre for Greening Finance and Investment Annual Forum. 'Greenwashing' is, of course, only giving an impression of addressing the climate crisis, rather than doing anything tangible. Doing something tangible, however, costs money, reducing the cash that can be funneled to executives and shareholders. Most business managers, like most politicians, are fixated only on the short-term (around 4-5 years). Executives probably calculate that, by the time the 'chickens come home to roost', they will be long gone (into retirement or another company). Shareholders also appear to be generally much more concerned about the current returns on their 'investments', than being mindful of the long-term viabilities of the companies whose shares they have 'bought'. There need to be much more immediate punishments for greenwashing. Simple 'slaps on the wrist' (as happens at present) are wholly insufficient. Greenwashing should be a crime.