HSBC ads banned for greenwashing

UK – The Advertising Standards Authority (ASA) has banned two HSBC ads on the grounds of greenwashing, stating they could lead consumers to believe the bank has a net-positive environmental impact.

Appearing on bus stops in Bristol and London before COP26, the adverts read ‘climate change doesn’t do borders’. The campaign spotlighted HSBC’s goal to plant two million trees in the UK, and a large investment plan for low-carbon activities.

The ASA received 45 complaints, accusing the bank of omitting information on the footprint of its financial activities and of conveying a misleading environmentally positive picture.

While calling out corporations on greenwashing is crucial, it is also key not to excessively scrutinise companies at the risk of affecting consumers and brand trust and aggravating The Paralysis Paradox. ‘The problem is that publicising particular projects that are environmentally beneficial is obviously positive. Where the picture is more nuanced, we need to be careful it doesn’t gag businesses from talking up genuine successes,’ says Andrew Terry of law firm Harbottle & Lewis.