THE FALSIFICATION OF SUSTAINABILITY INFORMATION: CRIMINAL RELEVANCE AND THE LIABILITY OF VERIFIERS

Abstract

It is no longer sufficient for companies to disclose economic or financial information at regular intervals. In recent years, a transparency regime has progressively taken hold, which, albeit still in its early stages, requires corporations to publicly disclose information concerning their conduct in areas that do not have an immediately apparent economic dimension. The ultimate objective is to foster more ethical and sustainable corporate behaviour. This article examines the criminal implications of falsifying corporate sustainability information, assessing its potential classification under Article 290 of the Spanish Criminal Code. Additionally, it explores the criminal liability of verifiers of such information—actors whose role increasingly resembles that of auditors in ensuring the accuracy of corporate economic data. Finally, the article considers potential legislative reforms aimed at enhancing the criminal protection of corporate transparency in the field of sustainability, including alternatives such as eliminating the requirement of financial harm under Article 290 of the Criminal Code or establishing the autonomous criminalization of falsified verification reports.