Thread by @R_BrooksStand

Breaking: @CompBureau, Canada's federal law enforcement agency on competition law, has opened an investigation into misleading climate claims by Canada's largest fossil fuel financing bank @RBC.

#cdnpoli #ESG
nationalobserver.com/2022/10/11/new…

“It’s the bureau’s job to protect the integrity of the marketplace, and that includes consumer confidence in the green economy/ We see environmental claims everywhere, but they’re not all legit. Greenwashing is on the rise.” @CompBureau

In January, the regulator fined @Keurig Canada $3 million over false and misleading claims about the recyclability of its single-use coffee pods. At the time, Boswell stressed that presenting products as being greener than they are is illegal and harms consumers.

The complaint calls RBC’s goal of providing $500 billion worth of sustainable finance by 2025 “false and misleading” because “RBC’s definition of sustainable financing is not linked to the reduction of GHG [greenhouse gas] emissions or climate-related risks.”

#Climate

While stating it supports the Paris Agreement, @RBC has provided over US$200 billion to fossil fuel companies since the landmark climate agreement was signed in late 2015

#greenwashing #ESG

The original complaint and request for investigation was made by Kukpi7 Judy Wilson of @UBCIC @EveSaint8 @ChloeTse Jennifer Roberge, Jennifer Cox, & @R_BrooksStand and filed by the legal pros at @ecojustice_ca . That complaint and release are here:

ecojustice.ca/pressrelease/c…

More coverage here:

Competition Bureau launches inquiry into @RBC’s green advertising

#greenwash #ESG
theglobeandmail.com/business/artic…