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Suncor Energy Inc
Symbol SU
Shares Issued 1,281,510,650
Close 2024-07-02 C$ 52.99
Market Cap C$ 67,907,249,344
Recent Sedar Documents

Globe says MEG, rivals grumpy about Competition Act

2024-07-03 07:39 ET - In the News

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

The Globe and Mail reports in its Wednesday, July 3, edition that in late May the House of Commons came together to support a final swath of landmark changes to the Competition Act. A Globe editorial says the need for an overhaul was clear to legislators across the political spectrum. One last-minute change on greewashing, however, needs to be reconsidered. The original bill expanded the deceptive marketing section to include environmental claims about products. That was straightforward and worthwhile. However, legislators then included a second provision, which has received more attention than the actual overhaul of the Competition Act. The problematic part focuses on climate claims a company makes about its business in general. Fossil fuel companies were angry and an oil sands consortium used a temper-tantrum publicity stunt as it wiped cleaned its website. The group had previously advertised that it was on "a path to reach net-zero emissions." The Globe says that is a debatable claim but it should not be potentially illegal. The Globe says it was political overreach to include this clause, even if the upset is overwrought. The Globe says the hasty amendment was a mistake.

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