FCA, as host of the first Global Financial Innovation Network Greenwashing TechSprint, has announced the firms presenting the best potential solutions for tackling the problem of greenwashing in financial services. Winners included firms proposing:
- AI powered tools to detect potential greenwashing;
- a taxonomised standard methodology for independent assessment of products;
- using open-source intelligence and natural language processing to identify greenwashing; and
- using text analysis and machine learning methods to enable comparison of discretionary ESG disclosures with fundamentals-based disclosures.