Within the EV value chain ESG reporting is going from something that is “nice to have” to a “need to have.” However, greenwashing fears are still high: 69% of Benchmark Mineral Intelligence survey respondents said they have concerns over the validity and transparency of ESG reporting in the lithium value chain.
Greenwashing, which is the process of describing a product as “environmentally-friendly,” “green,” “sustainable,” or “carbon neutral,” without evidence, is rife outside of the EV supply chain. The European Commission conducted a study that found over half of green claims made by business websites in 2021 lacked evidence to prove the claims. Didier Reynders, Commissioner for Justice, said traders were trying to “pull the wool over consumers’ eyes.”
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