From sladen.com.au: ASIC initiated legal proceedings against Active Super, alleging it made false and misleading statements regarding its adherence to Environmental, Social, and Governance criteria in investment decisions.

The Federal Court found Active Super engaged in misleading conduct by claiming it would not invest in sectors such as gambling, tobacco, and coal mining while actually holding such investments.

The court has yet to decide on penalties, but it is anticipated they will be significant due to the implications for businesses involved in greenwashing.