Danish banks hit with new sustainable finance rules by watchdog

The Danish FSA is responding to recent times’ greenwashing trends with new stricter sustainable investment rules for asset managers and banks in Denmark.

Photo: Lars Krabbe

Denmark’s investment industry, which claims to be the world’s first to collectively commit to carbon reductions, will face more stringent guidance and procedures on sustainable finance this year as the risks of greenwashing grow.

Increased focus on carbon emissions and climate-related threats makes inflated and misleading environmental claims more likely, according to a statement by the Danish Financial Supervisory Authority. Those factors could undermine confidence in banks and other asset managers, the watchdog said as part of its twice-year assessment of risks to the financial industry.

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