What’s the key issue with misleading?
More than half of net product statements came without sufficient information, according to a study conducted in November by NUS Business School on misleading in advertising claims.
One of the academics responsible for this Singapore-funded investigation, Prof. Loh from NUS, claimed that some businesses were profiting from the stress or responsibility placed on consumers to go green.
” Therefore they appeal to them ( through claims of environmental sustainability ) and make use of the situation to increase their revenue,” he said.
Unsubstantiated “green” says give firms an unfair advantage over companies, said NTU’s Assoc Prof Law.
” When presented with two similar products or purchase opportunities, consumers and investors are more likely to choose the one with green labels for as’certified clean’ or ‘100 per share natural’, even if the claims are not true,” he said.
He noted that consumers and investors frequently had to put in a lot of effort, time, and resources to check climate says ‘ validity.
We should hold the same for economic claims as we hold medical products and services responsible for bogus claims.
This leveled the playing field for businesses that are truly dedicated to sustainability, he continued, noting that it prevents consumers and investors from being misled by greenwashing strategies.