Beyond Green washing: A Multi-Case Study of ESG Misrepresentation in Global Food & Beverage Brands

Abstract

Environmental, Social, and Governance (ESG) misrepresentation is a parallel and concerning phenomenon that has emerged as a result of the rapid growth of corporate sustainability communication in recent years. This study investigates the use of greenwashing and social washing tactics, where public disclosures significantly deviate from operational realities, in the Indian and developing economies’ market, done by four major multinational companies in the FMCG industry: Mondelez International, The Coca-Cola Company, Kellogg’s and Nestlé.

The study uses a qualitative exploratory multi-case study approach, based on secondary data, to examine three interconnected aspects of ESG misrepresentation: (1) differences in products formulation and ingredient standards between developed and emerging markets, suggesting the existence of intentional market asymmetry; (2) the widespread use of misleading claims about sustainability, nutrition, and health in marketing communications; and (3) the abuse of regulatory loopholes and weak regulatory systems typical of developing nations like India.

The results show a consistent pattern for all four brands: cost-optimized, nutritionally inferior versions of products, having obscured higher levels of added sugars, sodium, synthetic dyes and artificial additives, while the healthier, more strictly regulated formulations are being supplied to markets with strict oversight (mainly the European Union and Australia). These brands display a systematic type of ESG misinformation, which violates consumer rights, public health, and ethical marketing standards. This study contributes to the growing discourse on corporate accountability, responsible marketing, and the limitations of voluntary ESG frameworks, thus offering implications for policymakers, regulatory watchdog organizations and conscious consumers in developing economies, such as, India.