Skip to content Skip to Search
Skip navigation
  • Video

Masdar City exec: Let’s talk about greenwashing

Greenwashing – a deceitful marketing gimmick where companies exaggerate their environmental actions – is “egregious” as it takes advantage of a movement that affects everyone on earth, according to Bill Weir, CNN’s chief climate correspondent. 

A recent global survey conducted by US-based The Harris Poll and sponsored by Google Cloud found that six out of 10 executives admitted to overstating – or inaccurately representing – their sustainability activities.

“They are taking away the social licence of other earnest actors who are trying to do the right thing,” Weir said during an exclusive video interview with AGBI

“The biggest threat greenwashing poses is further erosion of trust at a time when human cooperation is more vital than ever,” he added. 

On the other hand, Stephen Severance, director of growth at Masdar City, Abu Dhabi’s sustainability-focused urban community, says that the issue of greenwashing is a “good thing” as companies are now finding green issues important enough to talk about, even if they are not living up to them entirely.

“So culturally it’s a shift. Before you didn’t even have to make lip service to sustainability,” he said. 

The vast majority (85 percent) of executives surveyed acknowledged that customers are more likely to engage and do business with sustainable brands.

“When we started, sustainability was thought of as a cost, charity, CSR (corporate social responsibility),” said Severance. “The real mindset shift is that sustainability is a business opportunity where your customers, employees and stakeholders demand it.” 

Watch the full video to learn more about the seven sins of greenwashing and how to avoid it.

Latest articles

Aramco pipelines

BlackRock-led investors to refinance Aramco Pipelines stake

Investors in Saudi Aramco’s gas pipeline network, led by BlackRock, the world’s largest asset manager, are planning to issue $3 billion in bonds to refinance a loan that backed their purchase of a stake in the network.   The consortium of investors took a $13.4 billion bridge loan in 2021 to acquire a 49 percent stake […]

Over the first half of the year Sanad Group signed deals with international airlines including Asiana Airlines and Deucalion Aviation

Mubadala-backed Sanad Group reports 53% revenue growth

Sanad Group, the Abu Dhabi-based global aerospace engineering and leasing company, has seen revenues increase by more than half over the first six months of the year. Figures released to AGBI show revenue totalling AED2.3 billion ($620 million) was reported in the first half of the year, up from AED1.5 billion over the same period […]

Malaysia’s HSS Engineers Berhad and its emirati consultancy HSS signed the deal top oversee construction with the Baghdad municipality

UAE company in joint venture to build Baghdad metro

A Malaysian engineering company and its UAE affiliate have jointly won a $316 million contract to oversee the construction of the new Baghdad metro. The building of the planned 148-kilometre network and its 64 stations across the Iraqi capital was slated to begin this month and end in 2029. This timeline might be delayed, however, […]