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KPMG Report Reveals Rising Greenwashing Risks as Global Regulatory Scrutiny Intensifies

New study examines greenwashing regulations across 25 jurisdictions amid growing compliance challenges for multinational companies

November 19, 2024

NEW YORK, November 19, 2024 — KPMG Law has released The Challenge of Greenwashing: An International Regulatory Overview, a comprehensive study examining how companies must navigate an increasingly complex regulatory landscape. The report analyzes greenwashing regulations and enforcement mechanisms across 25 jurisdictions, including the United States providing new insights into emerging compliance challenges.

"Organizations face a critical turning point in corporate environmental accountability," said Maura Hodge KPMG US Sustainability Leader. "With intensifying regulatory oversight and growing stakeholder demands for transparency, unsubstantiated sustainability claims now carry significant legal and reputational risks."

The study highlights how environmental claims are increasingly subject to global regulatory frameworks that impact US companies' operations worldwide. Key among these is the European Union's Corporate Sustainability Due Diligence Directive (CSDDD), which extends responsibility through companies' entire chain of activities and requires organizations to identify and mitigate environmental risks throughout their supply chains. This cross-border approach means that US companies doing business internationally must adapt to stricter standards for substantiating green claims and demonstrating tangible sustainability progress.

Key findings from the report include:

  • Analysis of common greenwashing practices, including unsubstantiated claims, dubious environmental labels, and misleading advertising
  • Detailed examination of enforcement mechanisms, including FTC oversight and potential civil penalties
  • Framework for identifying greenwashing risks across product, entity, and counterparty levels
  • Overview of emerging regulatory requirements and compliance strategies

"The message is clear: organizations must implement robust compliance mechanisms to verify and substantiate their sustainability initiatives," Hodge emphasized. "Companies need to ensure their environmental claims are backed by clear evidence and accurate data to meet rising stakeholder expectations and regulatory requirements."

The complete report is available here.

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About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization, providing audit, tax, and advisory services. The KPMG global organization operates in 143 countries and territories, employing more than 273,000 people worldwide. Each KPMG firm is a distinct legal entity and operates as such. KPMG is recognized for its commitment to community service, diversity, and inclusion, and addressing childhood illiteracy. For more information, visit www.kpmg.com/us.

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