ESG Fraud & Enforcement Dashboard (2021-2025)

ESG fraud includes greenwashing, social/governance misstatements, and carbon offset fraud.
This dashboard visualizes actual regulatory enforcement actions, fraud types, and assurance trends using data from the SEC, EU, and industry surveys.
Sources: SEC, ESMA, KPMG, Reuters, Bloomberg, 2021-2025

ESG Enforcement Actions by Year (SEC/EU)
Enforcement actions for ESG misstatements, greenwashing, and related fraud have increased, peaking in 2024 as regulators intensified scrutiny.
Data reflects major published cases only.

Types of ESG Fraud (2024-2025)
Greenwashing remains the most common, but social and governance misstatements and carbon offset fraud are rising.

External Assurance of ESG Reports (S&P 500)
The proportion of S&P 500 companies obtaining third-party assurance for ESG disclosures has steadily increased, reflecting demand for credible reporting.
Source: KPMG Survey of Sustainability Reporting 2022-2024

Year	Company	Type	Outcome
2021	Volkswagen	Greenwashing	$30B fine (global emissions fraud)
2022	Goldman Sachs AM	Greenwashing	$4M SEC fine
2023	DWS (Deutsche Bank)	Greenwashing	$19M SEC fine
2024	WisdomTree Asset Mgmt	ESG Misstatement	$4M SEC fine

This dashboard presents actual, up-to-date data on ESG fraud and enforcement. It highlights the increasing regulatory focus on ESG misstatements and the growing use of external assurance for ESG disclosures. By tracking enforcement trends and notable cases, organizations can benchmark their controls and understand where fraud risk is most acute.
All data is sourced from public regulatory filings, ESG assurance surveys, and verified news reports.

Data: SEC, ESMA, KPMG, Reuters, Bloomberg, 2021-2025.
For further reading: SEC Enforcement | KPMG Survey

ESG Fraud Dashboard

ESG Enforcement Actions by Year (SEC/EU, 2021-2025)

This chart displays the annual number of major ESG-related enforcement actions brought by the SEC and European regulators from 2021 through 2025. The steady increase, peaking in 2024, reflects the global regulatory response to the rapid growth of ESG investing and reporting. Since 2021, the SEC has operated a dedicated Climate and ESG Task Force to proactively identify ESG-related misconduct, focusing on material misstatements and omissions in climate and sustainability disclosures. In Europe, enforcement actions have intensified as new regulations-such as the CSRD and supply chain due diligence laws-have come into force, equipping authorities with broader investigative and sanctioning powers. The rise in actions demonstrates both heightened regulatory expectations and increased scrutiny of companies’ ESG claims, with particular attention to greenwashing and failures in supply chain transparency.

Types of ESG Fraud (2024-2025, Major Cases)

This chart breaks down the major types of ESG fraud identified in enforcement actions and investigations during 2024 and 2025. Greenwashing-misleading claims about environmental practices or impacts-remains the most prevalent, but there is a notable rise in cases involving social and governance misrepresentations, as well as carbon offset fraud. These trends correspond to the expanding scope of ESG regulation, which now covers not only environmental disclosures but also social factors (such as labor rights and supply chain due diligence) and governance practices. The diversification of fraud types reflects both the broadening definition of ESG and the increasing sophistication of regulatory oversight, as authorities and stakeholders demand more comprehensive and accurate reporting across all ESG dimensions.

External Assurance of ESG Reports (S&P 500, 2021-2024)

This line chart shows the percentage of S&P 500 companies obtaining third-party assurance for their ESG disclosures from 2021 to 2024. The upward trend highlights a growing recognition that credible, independently verified ESG reporting is essential for investor trust and regulatory compliance. This shift is driven by both regulatory developments-such as the EU’s CSRD, which mandates detailed and, in some cases, assured sustainability disclosures-and market expectations for reliable, comparable ESG data. Assurance helps mitigate the risk of misstatements and greenwashing, providing stakeholders with greater confidence in reported ESG performance. Leading industry surveys, including KPMG’s Survey of Sustainability Reporting, confirm this trend toward external verification as a new standard in corporate ESG practice.

Notable ESG Fraud Cases (2021-2024)

This table summarizes several of the most significant ESG fraud enforcement actions in recent years, including the companies involved, the type of misconduct, and the regulatory outcomes. Cases such as Volkswagen’s emissions scandal, Goldman Sachs Asset Management’s greenwashing fine, DWS’s (Deutsche Bank) SEC settlement, and WisdomTree Asset Management’s ESG misstatement penalty illustrate the range of behaviors now subject to regulatory action. These cases are selected from public regulatory filings and news reports and underscore the legal, financial, and reputational risks associated with inaccurate or misleading ESG disclosures. They also exemplify the increasing willingness of authorities to pursue high-profile cases and impose substantial penalties to deter future misconduct.