Webinar: Making Asian Markets Green and Competitive

Almost 40% of natural disasters worldwide have occurred in Asia and the Pacific. In recognition of the need to tackle the climate crisis, governments, businesses and consumers in the region are starting to play their part. More consumers are making sustainable purchases, with a survey reporting that 64% of regional consumers will opt for environmentally friendly products and services. Some are even willing to pay a premium. E-commerce businesses are implementing sustainable business practices like using biodegradable packages or recyclable materials. But are consumers clear on the environmental benefits of what they are buying and are some businesses simply making declarations of sustainability or seizing the opportunity to charge higher prices?

A Singapore study on greenwashing in online marketing found half of the online product claims surveyed, were vague and prone to exaggeration on the environmental benefits. Australia has also had similar concerns prompting the competition authority to publish principles to help businesses make environmental marketing clear. Singapore is drafting guidance on misleading green claims but has already published guidance for businesses entering into Environmental Sustainability Collaborations with other businesses. Japan has established a Study Group on Guidelines for Business Initiatives toward Green Society.

In this webinar, panelists will discuss the role of competition and consumer policy in making Asian markets sustainable and innovative. Panellists will share the risks of misleading and anti-competitive behaviour, the actions competition authorities are taking and what businesses can do to compete and promote sustainability accurately.