Gate News message, April 20 — Paris Compliance, a shareholder advocacy group, filed a greenwashing complaint with the Alberta Securities Commission on August 21, 2025, alleging that Cenovus Inc. and Enbridge Inc., two major Canadian energy companies, have misled investors through inaccurate and incomplete environmental disclosures related to net-zero commitments.
The complaint argues that both companies have breached the Alberta Securities Act by extensively using net-zero terminology in their communications, leading investors to believe their business models align with the net-zero energy transition, despite plans that threaten existing operations and fossil fuel expansion. Paris Compliance specifically criticized the companies for not accounting for emissions from end-use of fossil fuels in their net-zero reporting, focusing only on operational emissions. Following new anti-greenwashing rules, Cenovus removed net-zero statements from its website, which the group views as incomplete disclosure. The complaint also cites public lobbying efforts, noting that executives from both companies signed an open letter to Canadian Prime Minister Mark Carney urging the government to scrap its greenhouse gas emission cap and carbon levy.
Enbridge responded that it remains committed to achieving net-zero operational emissions by 2050 and has reduced operational emissions by 22% compared to 2018 baselines through improved efficiency and renewable investments. Cenovus did not respond to requests for comment. The Alberta Securities Commission said it does not comment on complaint reviews but has provided companies with guidance on climate-related disclosures and greenwashing avoidance.
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