Problems and Prospects of Greenwashing Under Globalization Conditions and Development of Circular Economy

An urgent problem that arises in the practices of green marketing is the growth of greenwash- ing; companies that provide inappropriate, exaggerated or false information about product quality. This article provides information on the impact of greenwashing on consumers. The interpretation of the concept of «greenwashing» is considered and the origin of this concept as a scientific term is de- termined. The Green Code of Claims has been studied, which contains the principles on the basis of which companies have the right to announce the environmental friendliness of their products and con- duct green advertising. The eight main strategies of modern companies that use greenwashing and the main consequences for consumers after identifying such strategies are analyzed. This leads to mislead- ing information for both investors and consumers. The degree of influence of greenwashing on the marketing, business and reputation of the company is determined. For this purpose, examples of the use of world-famous greenwashing brands and their implications for the market were given. Compa- nies and brands are crossing the line between greenwashing and green marketing. The distinction be- tween green marketing and greenwashing was identified, as well as examples of companies that use green marketing, and the impact of a positive impact on their reputation after using truthful state- ments instead of false ones. In conclusion, there are methods to avoid the use of greenwashing by mar- keters, as well as these ways for consumers not to fall victim to misleading advertising. Recommenda- tions were also given to businesses on how to avoid greenwashing and build a positive reputation for their company, which will eventually increase the organization's profits by targeting the market for green products. If the company is working to achieve sustainability goals, it is better to share the true history of the brand with your audience, but you do not need to destroy the reputation of the brand just because the company wants to catch the trend.