Litigation risks posed by greenwashing are on the rise, focussing on parties that may fail to take action to mitigate climate change. The Taxonomy Regulation, the MiFID II framework and other transparency regulations play an important role in this. Banks and investments firms must integrate ESG-related preferences in their services to their clients, while being able to rely on the information published by their target investment companies. The proposed Consumer Empowerment Directive and the Green Claims Directive further underline that meeting ESG is definitively moving from the reputational and stakeholder management area to legal.