In 2021, the oil giant Shell announced its aim to spend between $2 billion and $3 billion per year on renewables and energy solutions. It also reported having directed 12 percent of its capital expenditure to these areas. However, international NGO Global Witness claims that the company directed just 1.5 percent of its capital expenditure to developing renewable energy sources, such as wind and solar power, with the rest of the spending going toward gas. As a result, Shell is now facing accusations of greenwashing and misleading investors (see Washington Post 2023). We see similar examples in the press every day.
Greenwashing refers to the practice of making false or misleading claims about how a company’s products are environmentally sound and involves making an unsubstantiated claim to deceive consumers into thinking that a product or company is more environmentally friendly than it actually is.
As businesses and organizations increasingly try to position themselves as environmentally and socially responsible, it can be difficult to discern genuine sustainability efforts from mere marketing stunts.
Join us and Greenwishing on June 21st to discuss the following questions:
By becoming better informed, we can help to hold businesses and organizations accountable for their environmental and social claims and contribute to a more sustainable future!
