Advertisement
Canada markets closed
  • S&P/TSX

    22,059.03
    -184.97 (-0.83%)
     
  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     
  • DOW

    39,375.87
    +67.87 (+0.17%)
     
  • CAD/USD

    0.7331
    -0.0016 (-0.22%)
     
  • CRUDE OIL

    83.44
    -0.44 (-0.52%)
     
  • Bitcoin CAD

    77,938.04
    -893.62 (-1.13%)
     
  • CMC Crypto 200

    1,184.67
    -24.02 (-1.99%)
     
  • GOLD FUTURES

    2,399.80
    +30.40 (+1.28%)
     
  • RUSSELL 2000

    2,026.73
    -9.89 (-0.49%)
     
  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     
  • NASDAQ

    18,352.76
    +164.46 (+0.90%)
     
  • VOLATILITY

    12.48
    +0.22 (+1.79%)
     
  • FTSE

    8,203.93
    -37.33 (-0.45%)
     
  • NIKKEI 225

    40,912.37
    -1.23 (-0.00%)
     
  • CAD/EUR

    0.6778
    -0.0014 (-0.21%)
     

Competition Bureau to speed development of guidance on new greenwashing rules

The Canadian Press

GATINEAU, Que. — The Competition Bureau says it will speed the development of guidance on the interpretation of new provisions in the Competition Act aimed at greenwashing.

The federal watchdog says it has received a large number of requests and that it will develop guidance "on an accelerated basis"

The amendments to the Competition Act that became law last month require companies to be able to substantiate environmental claims made to promote a product or business interest.

As part of its work, the regulator says it will launch a public consultation in the coming weeks.

The Pathways Alliance group of oilsands companies removed all content from its website and social media feeds last month, citing uncertainty over the new anti-greenwashing rules.

ADVERTISEMENT

The consortium of Canada's six largest oilsands companies says the changes create significant uncertainty for Canadian companies that want to communicate publicly about the work they are doing to improve their environmental performance.

This report by The Canadian Press was first published July 4, 2024.

The Canadian Press