MEG Energy yanks climate targets, blaming greenwashing law. Will other oilsands companies follow?

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Canadian Natural Resources News

Cenovus Energy,Oil And Gas Companies,MEG Energy

Industry executives have called the disclosure standards in Bill C-59 'so vague as to lack meaning.'

) has temporarily suspended its 2030 and 2050 greenhouse gas emissions targets, blaming recent federal legislation aimed at cracking down on misleading environmental claims.Calgary-based MEG is among six oilsands companies behind the Pathways Alliance, a group working to advance a massive $16.5 billion carbon capture and storage network in northern Alberta.

The executives behind Pathways called the disclosure standards in Bill C-59 “so vague as to lack meaning,” and reliant on internationally recognized standards which “may or may not exist,” in a June 20 joint statement. They say this opens the door to frivolous litigation against oil and gas companies.

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