Cenovus Decries Canada Greenwashing Law As Threat to Speech Freedom -- Market Talk

Dow Jones06-21

0827 ET - Cenovus Energy, one of Canada's biggest oil sands producers, says changes in antitrust law prohibiting greenwashing represents "a serious threat to freedom of communication," and will encourage "frivolous" litigation against companies that relay their climate change efforts to the public. The legislative changes, introduced in May and proclaimed into law this week, puts the onus on companies to prove their environmental claims are based on "adequate and proper substantiation," per the law -- although Cenovus and energy lobby groups say officials have provided zero guidance on what that entails. Cenovus says it has removed information on environmental and climate performance, progress from its website and other platforms due to legal risks, and not related "to the belief in the accuracy of our environmental communications." (paul.vieira@wsj.com, @paulvieira)

(END) Dow Jones Newswires

June 21, 2024 08:28 ET (12:28 GMT)

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