The Financial Post reports in its Wednesday, Aug. 20, edition that a complaint filed with Alberta's securities regulator alleges that Cenovus Energy and Enbridge misled investors by exaggerating their net-zero commitments. The Post's Meghan Potkins writes that Investors for Paris Compliance (I4PC), a climate-focused shareholder group, claims that the companies' pledges to achieve net-zero greenhouse gas emissions by 2050 are not credible, as they exclude customer emissions and lack detailed plans for achieving their goals. I4PC
analyst Michael Sambasivam says: "This suggestion that Canada can produce the last barrel of oil, we don't find credible. We're not asking these companies to cease operations, but through the securities complaint, we are asking them to be more honest in their advertising and disclosures." Securities law prohibits companies from making misleading or untrue statements or leaving out material facts. Energy companies like Cenovus aim for net-zero emissions from their operations, but this excludes emissions from the combustion of their oil, which account for most lifecycle emissions. I4PC previously brought securities complaints against Canadian banks last year over sustainable finance commitments.
© 2026 Canjex Publishing Ltd. All rights reserved.