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(Photo: iStock)
The European Parliament passed several green bills during the meeting on Mar. 12, including imposing severe penalties to company for greenwashing behavior and requiring member states to promote building renovations to improve energy efficiency and reduce carbon emissions.
The European Commission proposed the "Directive on Green Claims" in 2023, which, after discussions and amendments in the European Parliament, passed with a significant majority of 467 votes in favor and 65 against. In the future, companies must apply for approval and undergo evaluation within 30 days to use "green marketing." Violations of the regulations will result in exclusion from public procurement tenders and fines of at least 4% of annual revenue.
