Bank of Italy DG sounds greenwashing alarm

(ANSA) - ROME, OCT 18 - Luigi Federico Signorini, the director general of the Bank of Italy and the head of Italian insurance supervisory authority IVASS, on Monday sounded the alarm about the danger of greenwashing in relation to financial investments.
    Signorini told the 'Insurance Summit 2021 organized by Italian insurers association ANIA that the criteria for sustainable finance is "neither harmonized nor easily verifiable.
    "In this scenario, confusion is set to increase and 'greenwashing' is not a risk to take lightly".
    With regards to the climate crisis, Signorini added that "Italy is much more exposed to natural disasters than many other countries, yet the level of insurance coverage is relatively low". (ANSA).