Greenwashing

The European Union wants to crack down on bogus claims of environmentally friendly products through a directive that will tighten labeling rules and require independent verification.

Companies have been calculating their carbon footprints since the early 2000s and just over one in three of the world's 2,000 largest public corporations have now set goals to become carbon neutral or emissions-free by mid-century or sooner.

Activists of KoalaKollektiv during a protest against the greenwashing of nuclear energy and natural gas by the taxonomy of the EU, in front of the Euro sign in Frankfurt am Main, Germany, 11 January 2022. EPA-EFE/RONALD WITTEK

The chief executive of DWS stepped down, the German asset manager said Wednesday, after the financial institution was raided by prosecutors in relation to "greenwashing" allegations.    

Asoka Woehrmann had "resigned as CEO of DWS Group" with the decision coming into effect after the asset manager's annual general meeting on June 9, it said.