Greenwashing risk shifts towards transition sectors

RepRisk’s analysis reveals that alternative energy, metals, mining and utilities account for an increasing share of environmental claims under scrutiny.

A wooden puzzle with an imprint of a leaf inside a cog being put together — © Shutterstock/3rdtimeluckystudio

Between June 2025 and June 2026, the number of companies linked to greenwashing rose 28% year-on-year to 1,594, according to RepRisk’s fifth annual Greenwashing Report.

The data shows that greenwashing scrutiny is shifting away from traditional high-emitting industries. Alternative energy, industrial metals, mining, software and computer services, and utilities accounted for 29% of environmental issues linked to greenwashing in 2026, up from 18% in 2022. Over the same period, oil and gas fell from 17% to 12%.

According to the report, financial institutions also saw a rise in greenwashing links. Financial services recorded a 40% year-on-year increase in companies associated with greenwashing, while banks rose by 23%.

The analysis shows the focus of environmental claims is also changing. Links to ecosystems and biodiversity nearly doubled between 2024 and 2026, overtaking climate change and emissions for the first time in five years.

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