23:06:39 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



MEG Energy Corp
Symbol MEG
Shares Issued 285,354,621
Close 2023-10-03 C$ 25.50
Market Cap C$ 7,276,542,836
Recent Sedar Documents

FP/CP say MEG, rivals targeted for alleged greenwashing

2023-10-03 08:04 ET - In the News

Also In the News (C-CNQ) Canadian Natural Resources Ltd
Also In the News (C-CVE) Cenovus Energy Inc
Also In the News (C-IMO) Imperial Oil Ltd
Also In the News (C-SU) Suncor Energy Inc

The Financial Post reports in its Tuesday edition that the Pathways Alliance is being targeted by Canada's environmental movement, which has expanded its war against the fossil fuel industry to a new battleground: the federal Competition Bureau. A Canadian Press dispatch to the Post reports that Canada Pathways Alliance is controlled by Canadian Natural Resources, Suncor Energy, Cenovus Energy, Imperial Oil, MEG Energy and ConocoPhillips. In the past year, Canadian green groups have lodged at least four formal complaints with the bureau, which is tasked with protecting consumers by fostering a competitive marketplace. The complaints allege false or misleading environmental claims by fossil fuel companies or -- in the case of a complaint against RBC -- those who finance them. Under Canada's Competition Act, it only takes six signatories to a deceptive advertising complaint to compel the bureau to launch an investigation. While no conclusion of wrongdoing has been reached in any of the cases, the environmentalists hope their new strategy will raise awareness of what they call "greenwashing" -- a perceived tendency by companies to market their products and practices as more sustainable than they really are.

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