Investors for Paris Compliance has filed a complaint with the Alberta Securities Regulator (ASC) accusing Cenovus and Enbridge of misleading disclosure regarding net zero. The complaint alleges that both Cenovus and Enbridge have continuously misled regarding their net zero commitments and associated transition plans, allowing a reasonable investor to incorrectly believe that each company has a strategy to align with net zero.
The complaint requests the ASC conduct an investigation into the net zero disclosures of Cenovus and Enbridge and peer companies to remedy specific instances of overly promotional disclosure, and work with other provincial securities regulators on guidance related to net zero claims by publicly listed companies in Canada.
