Canadian oil firms hold back environmental reports on new greenwashing : Globe
UNSPLASH/Chris Liverani
Canada’s major oil companies, who are reporting earnings this week, are holding back from issuing environmental reports amid worries about new “greenwashing” rules, the Globe and Mail’s Emma Graney reported.
Lawmakers in June amended the Competition Act to prohibit companies from making deceptive claims about the environment. The move has been controversial, with companies arguing the provisions are unclear and require them to substantiate claims with an “internationally recognized methodology” that hasn’t yet been defined in the law.
The competition bureau is consulting with stakeholders on how to provide more clarity.
Cenovus Energy and Canadian Natural Resources issued second-quarter financial results on Thursday without the usual environmental, social and governance reports, the Globe reported.
