TheReserve Bank of India (RBI)has joined forces with theGlobal Financial Innovation Network (GFIN)to participate in the Greenwashing TechSprint. The event aims to address concerns surrounding exaggerated, misleading, or unsubstantiated claims related to environmental, social, and governance (ESG) credentials. The TechSprint will bring together 13 international regulators, firms, and innovators to develop a tool that could help regulators and the market more effectively tackle the risks of greenwashing in financial services.

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The RBI will be among the 13 international regulators taking part in GFINs Greenwashing TechSprint. The central bank has invited Indian firms to participate in the event and has opened the application window for all India-based firms and innovators to apply. The window will close on May 21, 2023. RBI will participate in a virtual TechSprint hosted on the Financial Conduct Authoritys (FCA) Digital Sandbox.