Changes in the Competition Act meant to reduce 'greenwashing' may in fact be causing firms to stop reporting or even drop green initiatives

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As climate-concerned central planners continue to discover, their actions have unintended consequences — some of which work completely contrary to their stated intentions. The latest example: as the result of changes to Canada’s Competition Act that were cheered on last year by environmental organizations like Greenpeace, RBC is now scrapping some of its environmental commitments and disclosures. Last week, the bank, which has Canada’s largest corporate market cap at $237 billion, announced it was “retiring” the “sustainable finance commitment” it made in 2019 and would no longer disclose its energy supply ratio, citing the Competition Act changes as a reason for its decision.

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The changes in question require companies to substantiate claims about........

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