News Shorts: new greenwashing fines, public consultation on social enterprise, local NFP goes global

All the news you need to know from around the sector.

Two new charges added to ASIC’s greenwashing crackdown

The Australian Securities & Investments Commission (ASIC) issued two more fines over alleged false or misleading statements as part of its crackdown on greenwashing practices. Superannuation trustee Diversa Trustees received a $13,320 fine, while energy company Black Mountain Energy Limited paid $39,960 to comply with three infringement notices.

“ASIC issued eight infringement notices for alleged greenwashing in 2022 and has started the year with further action against a listed company. ASIC will continue to closely monitor sustainability claims and take action where we consider representations cannot be substantiated or are factually incorrect,” said ASIC’s deputy chair Sarah Court.

See more: Greenwashing crackdown continues

Local youth suicide NFP and social enterprise goes global

Aussie skincare brand Unlabelled, a NFP and social enterprise, is set to appear on the shelves of international retailers in Thailand, Israel, Hong Kong and India. The ethical vegan brand will also be stocked locally in Coles supermarkets from the beginning of 2023.

Unlabelled donates all profits made to mental health charities that aim to reduce youth suicide, including Headspace, QLife, Kids Helpline and The Black Dog Institute.

New B Corp certification standards one step closer

The first phase of public consultation on the proposed new B Impact Assessment criteria, which informs B Corp certification, has received over 1,000 entries from the global for-purpose community. It is the first time in 16 years that B Lab is reshaping its standards and framework, in order to better reflect current social and environmental challenges.

A synopsis of the first draft round consultation will be released shortly, along with next steps for interested parties – including certified B Corps, companies considering or in the process of becoming a B Corp, sustainability and social justice advocates, academics, journalists, students, funders and those with an interest in the B Corp movement – to get involved in future iterations.

See more: Have your say on the evolution of B Corp certification

Help inform the next chapter of social enterprise

The social enterprise community is invited to share their ideas, experiences and priorities for the future of the sector in a free online discussion session run by Social Enterprise Australia, which will help inform the peak body’s submission to the next federal budget.

Interested parties can sign up online for the forum, which will run on Tuesday 24 January from 1pm to 2.30pm. Submissions for the federal budget close on Friday 27 January.

See more: What’s the focus of social enterprise in 2023?