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Suncor Energy Inc
Symbol SU
Shares Issued 1,275,938,297
Close 2024-07-30 C$ 53.22
Market Cap C$ 67,905,436,166
Recent Sedar Documents

NP says MEG, rivals hear "greenwashing" against the law

2024-07-30 07:46 ET - In the News

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

The National Post reports in its Tuesday, July 30, edition that companies that do not align with the government's stance on climate change will soon be required to do so, as Bill C-59 has become law. The Post's guest columnist Adam Pankratz writes that the bill made amendments to Canada's Competition Act, prohibiting the private sector from engaging in "greenwashing," an intrusive crackdown on corporate communications. Before the amendment, the Competition Act addressed deceptive marketing. However, Bill C-59 has broadened the scope of the law to encompass representations made to the public that guarantee the benefits of a product in terms of protecting or restoring the environment, or mitigating the environmental, social and ecological causes or effects of climate change. For individuals, fines start at $750,000, and for corporations, that figure starts at $10-million. The origin of the "greenwashing" accusation came after corporations exaggerated their good deeds. "Greenwashing" is now against the law. In effect, the government has placed ideological differences in the same box as deceptive pricing, making them equally punishable under the law. The potential for future unintended consequences is enormous.

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