Episode
138

Understanding Bill C-59 with Sarah Keyes

November 14, 2024
|
Duration:
1485673
Apple Podcast Icon
Listen on Apple Podcasts
Spotify icon
Listen on Spotify

In This Episode:

Join hosts Dave, Lysandra and John in this timely episode as they dive into Bill C-59 and its implications for Canadian businesses making environmental claims, together with industry expert Sarah Keyes. She breaks down the often-misunderstood concept of “greenwashing” and explores how Bill C-59 aims to establish clearer standards for marketing claims related to climate and sustainability.Sarah shares insights on recent high-profile cases, like the Competition Bureau’s investigation into Lululemon, and the response from major Canadian oil and gas companies. Learn about the serious financial penalties tied to deceptive green marketing and how companies can avoid these pitfalls by fostering transparency and accountability. Don't miss this in-depth discussion on how Bill C-59 is set to impact brand reputation, consumer trust, and the future of sustainable business in Canada.

Highlights

  • Purpose of the Competition Act: The Act ensures fair competition in Canada by preventing anti-competitive practices and promoting fair opportunities for businesses of all sizes while protecting consumer interests.
  • Clarifications Introduced by Bill C-59: The bill targets deceptive marketing related to environmental claims, mandating evidence-backed substantiation of terms like “carbon neutral” and “net zero.”
  • Key Compliance Requirements: Businesses must align with internationally recognized methodologies and conduct adequate tests before making environmental claims in marketing.
  • Enforcement and Litigation Risks: Bill C-59 introduces the right of private action, allowing individuals to challenge greenwashing claims in the public interest, potentially leading to increased litigation risks.
  • Impacts on SMEs: While large corporations like RBC and Lululemon face scrutiny, SMEs must also ensure their marketing practices comply with the bill to avoid significant penalties.

Key Insights

  • Avoiding Greenwashing: Companies must review existing claims, ensure substantiation, and avoid over-reliance on carbon credits for achieving sustainability goals.
  • Proactive Documentation: Organizations should document their methodologies and align claims with standards like the International Sustainability Standards Board (ISSB) and Greenhouse Gas Protocol.
  • Potential Penalties: Non-compliance can lead to fines up to CAD $10 million and 3% of global annual revenues, making adherence critical for businesses of all sizes.
  • Market Impact: High-profile cases, such as those involving RBC and Lululemon, highlight the reputational risks associated with greenwashing.
  • Consumer Awareness: Increased consumer scrutiny of environmental claims emphasizes the need for transparency and accountability in business practices.
Prev

Loading...

Next

Loading...