Federal Court decision reinforces ASIC’s stance on greenwashing

On 5 June 2024, the Federal Court found that LGSS Pty Ltd, as the trustee of the superannuation fund now known as Active Super (Active Super) made false or misleading representations and engaged in conduct that was liable to mislead the public about its ESG credentials in breach of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act).