19:32:03 EDT Sat 07 Sep 2024
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Cenovus Energy Inc
Symbol CVE
Shares Issued 1,856,555,305
Close 2024-07-22 C$ 27.50
Market Cap C$ 51,055,270,888
Recent Sedar Documents

Globe says Suncor, rivals hear they must not mislead

2024-07-23 07:25 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Tuesday, July 23, edition that the Competition Bureau has issued guidelines for identifying corporate greenwashing as it starts consultations on implementing Ottawa's new measures to prevent false environmental claims. The Globe's Jeffrey Jones writes that Bill C-59 includes a controversial amendment to the Competition Act, making companies legally responsible for unsubstantiated environmental claims. Under the legislation, corporate communications must be backed up by as yet undefined international standards. Individuals and companies could face sizable fines if found liable. In response, several oil and gas companies and industry associations added disclaimers to their websites and social media feeds or deleted content altogether, citing legal uncertainty. Alberta has been vocal in its opposition, calling the anti-greenwashing provision a "gag order." Alberta's Environment Minister Rebecca Schulz has said she intends to make a submission to the bureau. On Monday, the bureau published some examples of corporate greenwashing, as well as complaints it has received. Even with clear strategies in place, companies must take care not to be misleading, the bureau said.

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