Research by RepRisk reveals a 12% year-on-year decrease of companies linked to greenwashing, signaling a major shift in corporate behavior
Despite an overall decline, high-risk cases of greenwashing surged by over 30%.Nearly 30% of companies linked to greenwashing in 2023 were repeat offenders in 2024. While the Banking and Financial Services sector experienced a 70% increase in climate-related greenwashing risk last year, this year’s report reveals a 20% decrease.ZURICH, Oct. 9, 2024 /PRNewswire/ — New research from RepRisk, a global leader in ESG data technology, shows a 12% decrease in greenwashing risk globally across all sectors during the year ending in June 2024. This is the first such decrease in six years.

RepRisk’s third annual greenwashing report finds this is likely the result of increased regulatory measures and companies engaging in greenhushing out of fear of pushback from stakeholders, especially consumers, investors, and regulators. While the prevalence of incidents has fallen, the number of severe greenwashing cases has increased by 30%, indicating there is still work to be done.
“Stakeholders are more aware of greenwashing risk than ever before,” commented Dr. Philipp Aeby, CEO and Co-Founder of RepRisk. “While regulators have successfully pushed forward legislation to deter greenwashing, the risk will keep evolving as new forms emerge, leaving companies open to reputational damage which impacts their bottom line. Greenwashing is often driven by corporate narratives. To uncover it, investors and companies should rely on what external sources reveal about these claims.”
The fall in net cases underlines that companies are increasingly cognizant that greenwashing is a material offence and are taking proactive steps to mitigate exposure. This is an encouraging sign for governing bodies banking on pending and active greenwashing legislation to instigate change.
However, RepRisk data found that 30% of all companies linked to greenwashing in 2023 were also flagged in 2024. This indicates that while public perception is having a big impact on the overall downward trend, more regulation, coupled with transparent data, is needed to reduce protracted cases and tackle the growing number of severe incidents.
The report also signals a significant shift in the greenwashing landscape of Banking and Financial Services. While the sector experienced a 70% increase in climate-related greenwashing from 2022 to 2023 – a trend also reflected in a report from the European Banking Authority published this summer – new RepRisk data reveals a 20% decrease in incidents globally across the sector from 2023 to 2024. Just over a third (36%) of financial companies linked to greenwashing last year were also linked to greenwashing in 2024, slightly above the 30% average across all sectors.
It is clear that regulation has had an impact on the overall downward trend. The UK saw a relatively modest reduction in incidents of 4%, whereas there was a 20% decline in the EU, which led the regulation wave based on the sheer volume of legislation that went into effect in the past 12 months. For example, the EU’s Green Claims Directive mandates that companies substantiate their environmental claims with robust evidence, contributing to a reduction in incidents across the continent.
However, regulation may not be the sole driver, as US greenwashing trends paint a different picture. Greenwashing cases in the US peaked in 2022, with 503 incidents – a 35% year-over-year increase from 2021. This was followed by a 10% decline in 2023 and a modest 6% rise in 2024. One possible explanation for the divergence in the US is the increasing politicization of ESG. The earlier decline may be linked to companies and funds becoming more cautious about promoting their green credentials, responding to pressure from investors, state attorneys general, and other state-level political figures opposed to considering ESG criteria in investments.
 
Notes to Editors
RepRisk captures greenwashing through the intersection of two criteria: (1) misleading communication and (2) an environmental issue such as local pollution or impacts on ecosystems and biodiversity. ESG risk incidents in this scope may include criticism of an advertising campaign deceiving consumers on environmental impacts, research findings revealing that a company is overstating the impact of an initiative, or coverage of company actions in direct contrast to climate commitments.
By excluding company self-disclosures in its data generation, RepRisk illuminates business conduct risks that could otherwise be obscured and could materialize into adverse impacts.
RepRisk determines severity as a function of three dimensions: firstly, the consequences of the risk incident (e.g., the scale of actual environmental repercussions relative to the green claims); secondly, the extent of the impact (e.g., one person, a group of people, a large number of people); and thirdly, whether the risk incident was caused by accident, negligence, or intent, or even in a systematic way. There are three levels of severity: low severity, medium severity, and high severity.
To provide more up-to-date data, RepRisk has discontinued the use of calendar years. While the 2023 report presented results based on both calendar years and the period from September 1, 2022, to August 31, 2023, the 2024 report adopts a uniform timeframe from July 1 to June 30 for all years from 2019 to 2024.
Later this year, RepRisk will expand its methodology by introducing six new Topic Tags. Alongside Greenwashing, the new tags will include Artificial intelligence, Deforestation, Ecocide, Mercury, and Social washing.
About RepRisk
RepRisk is a global leader in identifying and assessing business conduct and ESG risks for organizations worldwide. RepRisk focuses on what companies may not disclose, uncovering risks such as deforestation, human rights abuses, and corruption, giving stakeholders a clearer view of their business relationships and investments.
Through a combination of advanced AI with human expertise in 23 languages, RepRisk delivers daily updated data on business conduct risks for organizations of all sizes. RepRisk’s transparent and consistent methodology, refined over nearly two decades, transforms risk incidents into actionable insights to conduct due diligence and mitigate risk exposure.
RepRisk saves clients valuable time on research and analysis, empowering decision-makers to make fast, informed decisions that protect their interests, enhance value, and promote sustainability. Trusted by over 80 of the world’s leading banks, 17 of the 25 largest investment managers, top corporations, and the world’s largest sovereign wealth funds, RepRisk sets the global standard for business conduct data.
Visit us at www.reprisk.com.
Contact:Mathias FürerCorporate Communications [email protected]+41 41 552 30 01
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SINGAPORE, Oct. 9, 2024 /PRNewswire/ — AWAK Technologies, a pioneer in innovative kidney care is excited to announce its rebranding to Vivance. The name, derived from ‘viva’ and ‘advance’, embodies vitality and progress – hallmarks of the company’s commitment to revolutionizing kidney health.

AWAK Technologies was founded with a groundbreaking idea: the development of a wearable dialysis device, Automated Wearable Artificial Kidney (AWAK). As the company continues its mission to transform kidney care, the portfolio has been expanded with products that aim to enhance patient outcomes and quality of life. To reflect this evolution and commitment to innovation, it has rebranded to Vivance – a name that captures its dynamic and forward-thinking approach in managing kidney health.
Suresha Venkataraya, CEO of Vivance, said, “This rebrand reflects how far we’ve come, and where we’re heading. Building on the foundation of our wearable dialysis device, we’ve made significant strides by expanding our portfolio to include cost-effective home modalities and complementary digital offerings. This rebrand reinforces our ultimate mission of treating patients in the comfort of their homes.”
Abel Ang, Chairman of Vivance, added, “We are excited to introduce Vivance to the world. Building on two breakthrough device designations from the FDA, our rebranding accelerates our mission to revolutionize healthcare. This exciting new chapter for the company will see us take patient-centric dialysis from a dream into reality.”
Looking Ahead
As Vivance, the company will continue to refine its brand strategy, product positioning, and approach to market entry, ensuring a strong and strategic alignment with industry needs. The wearable dialysis device is progressing through clinical trials, while additional innovations, such as point-of-care PD fluid generation system, remote monitoring tools and AI prediction models, are in advanced stages of research and development. These products are poised to enter their clinical phases in the near future, reinforcing Vivance’s mission to drive meaningful disruption in the kidney care sector.
Media Contact:
Priyanka AryaSenior Marketing Manager+65 6950 [email protected] 
About Vivance
Vivance, formerly AWAK Technologies, is a pioneering, patient-centric medical technology company with a mission to enhance the lives of people with kidney disease and their caregivers by providing solutions to deliver better outcomes and improve their quality of life.
Headquartered in Singapore with offices in Los Angeles, United States and Bengaluru, India, the company is dedicated to the research, development and marketing of novel technologies in kidney care. 
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Hyundai Motor Group and Nanyang Technological University, Singapore collaborate in the field of hydrogen energy and advanced energy systemThe partnership aims to advance towards carbon neutrality through joint research with world-renowned NTUHMGICS, NTU and A*STAR to establish a tripartite Corporate Lab Program for collaborative research in AI, robotics and 3D printingSINGAPORE and SEOUL, South Korea, Oct. 9, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) has signed a collaborative research agreement with Nanyang Technological University, Singapore (NTU) in the field of new energy at the Singapore-Korea Business Forum, Ritz Carlton Singapore, on October 8. The partnership encompasses a three-year research collaboration, focusing on the hydrogen energy business and advanced energy system.

This collaboration between the Group and NTU, a globally renowned university, aims to develop alternative energy sources to achieve carbon neutrality, leveraging the Group’s advanced energy technologies that are suitable for Singapore’s unique characteristics.
“HMGICS is a global hub for Hyundai Motor Group’s future mobility innovation,” said Hyun Sung Park, Vice President and CEO of Hyundai Motor Group Innovation Center Singapore (HMGICS). “Through this partnership, we aim to accelerate our research in the field of innovative technologies, ultimately enhancing the commercial viability of our sustainable mobility solutions.”
One of the key areas of focus will be studying the adoption of hydrogen production technologies and businesses in Singapore. This includes the implementation of Hyundai Motor Group’s innovative resource-cycle hydrogen production technologies: Plastic-to-Hydrogen (P2H) and Waste-to-Hydrogen (W2H) systems. W2H utilizes organic waste such as food and sewage sludge to produce hydrogen, while P2H utilizes non-recyclable plastic.
In the field of advanced energy system research, the Group and NTU will develop a solution that is well-suited for urban countries like Singapore. The system offers the advantages of easy installation and high safety levels thanks to its modular design, playing a vital role in achieving carbon neutrality in Singapore.
HMGICS also held a joint signing ceremony for the establishment of a tripartite research center with NTU and the Agency for Science, Technology, and Research (A*STAR). The Corporate Lab Program is set to conduct research in innovative manufacturing domains such as AI, robotics and 3D printing.
“The research partnerships between NTU Singapore and Hyundai Motor Group reflect how close collaboration with industry is vital in developing innovative and relevant solutions to address real world issues, including the race to carbon neutrality,” said Professor Lam Khin Yong, Vice President (Industry) of NTU. “We will continue to build on our long-standing partnership with Hyundai Motor Group, leveraging NTU’s core strengths in areas such as sustainable energy, AI, robotics, 3D printing, and advanced materials, to develop innovative and sustainable solutions for Singapore and the global society.”
For more information, please visit: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Newsroom
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