Guidance Published on Greenwashing and Consumer Protection

The Isle of Man Financial Services Authority has published guidance to raise awareness of consumer protection risks related to greenwashing and provide further clarity around expectations in respect of these risks.

This represents the Authority's second deliverable against Pillar 1 (Enabling Environment) of the Isle of Man Sustainable Finance Roadmap. Their workstreams are focused on creating a platform that enables firms to develop products and services, with a view to fostering the growth of sustainable finance as part of a well-regulated international business centre. The other pillars focus on developing capacity, promotion and communication, and mobilising capital.

The aim is to provide information on what greenwashing is, how it can manifest and the impact it can have on consumers, along with how firms can ensure they protect both their reputation and their customers.

The document focuses on how these risk management expectations sit within the existing regulatory frameworks, with no new requirements for firms.

Read the full Guidance Note: Greenwashing and Consumer Protection

Read the Roadmap : Isle of Man Sustainable Finance Roadmap