The UK Advertising Standards Authority (ASA) banned a Lloyds Banking Group advert for misleading environmental claims, marking the second major lender to breach the country’s greenwashing regulations.
The ban follows an investigation into a billboard poster and three LinkedIn ads promoting Lloyds’ climate-friendly image. Bristol-based advocacy group Adfree Cities reported the campaign to the ASA, arguing that the ads omitted crucial information about Lloyds’ ongoing financing of polluting industries.
The ASA upheld part of the complaint, banning one LinkedIn post that featured an animated electric car driving through idyllic countryside, accompanied by claims of Lloyds’ commitment to reducing fossil fuel reliance and supporting renewable energy. Critics argued that the advert failed to present a balanced picture of the bank’s environmental impact, especially in light of its continued support for high-emission industries.
The case highlights the growing scrutiny of corporate greenwashing. Companies are under pressure to provide transparency and accountability in their sustainability claims. Read More
News Credit: The Guardian
Picture Credit: Andy Rain/EPA