Regulator targets Mercer Australia in its first greenwashing court action

ASIC stated that Mercer Australia's Sustainable Plus products invested in 15 companies involved in the extraction and sale of carbon-intensive fossil fuels. (Image: Getty)

Greg Hurrell

Thu, 02 Mar 2023

Australia's corporate regulator has launched its first greenwashing court action against pension fund Mercer Superannuation.The Australian Securities and Investments Commission (ASIC) has accused the company of misleading members about the sustainability of some of its investment options. The regulator is seeking financial penalties and declarations from the court against Mercer Australia for the alleged breaches, as part of a new focus on enforcement action against greenwashing.Mercer is a global firm headquartered in New York, with o...

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