Deborah Yedlin: ‘Greenwashing’ ban has already put a chill on climate disclosure targets [Video]

It didn’t take long.

Within hours of Bill C-59 being passed, which introduced an amendment to the Competition Act, businesses and industry associations took down climate related disclosures from their websites. Some gave reasons, stating the risks associated with non-compliance with the legislation was too high while others simply removed language associated with climate disclosure or significantly reduced their online presence. Not only should this be seen as preventing Canadian companies from communicating with their stakeholders and the broader public, it will also run counter to the axiom in securities regulations requiring full, true and plain disclosure. In other words, it could contravene securities regulations in Canada and the United States.

Briefly, the federal Liberal amendment is aimed at addressing so-called ‘greenwashing’ claims against companies, requiring them to defend their environmental stewardship statements, practices and goals beyond what currently exists. It would all be done according to an international methodology that has yet to …