"Greenwashing has become a real risk in recent years but one thing it shows is that companies recognise that acting on issues like climate or social matters is important for their stakeholders and shareholders," he said. "The problem in today’s market is that companies can make claims that nobody can verify. That makes it extremely difficult for people making capital allocation decisions. High-quality global standards for disclosing sustainability information will significantly reduce greenwashing ‘noise’ and help companies and investors have meaningful conversations about what really matters to them and the concrete steps taken to implement sustainability commitments."