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ASIC’s first greenwashing case results in landmark $11.3 million penalty for Mercer
Mercer Superannuation (Australia) Limited was ordered to pay an $11.3 million penalty after admitting to making misleading statements about the sustainable nature and characteristics of its 'Sustainable Plus' superannuation investment options. The court found Mercer failed to exclude investments in companies involved in fossil fuels, alcohol, and gambling as claimed.
ASIC
Date Added
15 April 2026 at 17:38:24
Why it matters
This was ASIC’s first greenwashing civil penalty case and sets a precedent for enforcement against misleading ESG claims in the financial services sector. It highlights the importance of accurate ESG disclosures and robust compliance systems.
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