22:10:49 EDT Thu 17 Oct 2024
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Cenovus Energy Inc
Symbol CVE
Shares Issued 1,859,372,899
Close 2024-06-24 C$ 26.31
Market Cap C$ 48,920,100,973
Recent Sedar Documents

FP says MEG, rivals decry vagueness of C-59 amendments

2024-06-25 08:54 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Financial Post reports in its Tuesday, June 25, edition that last week, a group formed by Canada's six largest oil sands companies, which is working on reducing its carbon emissions in the coming decades, surprised many by removing all of its content from its website after the government enacted Bill C-59. The Post's Naimul Karim writes that the bill addresses, among other things, what some call "greenwashing." The Pathways Alliance's goal is to reduce oil sands emissions by 22 million tonnes per year by 2030 and become net zero by 2050 by using technologies such as carbon capture and storage and nuclear energy. The federal government wants to ensure companies are actually taking steps toward that goal instead of just participating in deceptive marketing practices. Pathways decided to remove all its content from its website after the bill that included the amendments to the Competition Act was passed. The bill adds two paragraphs linked to environmental protection in a Competition Act section that deals with deceptive marketing practices. Pathways has a problem with the apparent vagueness of the additions. Pathways says the amendments open "the door for frivolous litigation."

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