Development of Greenwashing Taxonomy as A Tool for Managing International ESG Risks

Abstract

ESG issues are significant for international companies, but greenwashing is an increasing concern. This study explores greenwashing in international business by analyzing data from 61 companies in 7 industries. Results show varied ESG strategies among industries, with a focus on social aspects. Oil, gas, and food industries exhibit greenwashing tendencies in 2022. The study suggests policy recommendations for improved green taxonomies and regulations to combat greenwashing and enhance corporate sustainability transparency.