Competition Act: C-59
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Overview and Impact on Businesses
Bill C-59, or the Fall Economic Statement Implementation Act, 2023, amends Canada’s Competition Act to introduce stricter rules for environmental claims made by companies. The amendments, which take effect on June 20, 2024, aim to combat greenwashing by requiring businesses to provide verifiable evidence for their sustainability claims. Companies must now review their practices and statements to ensure they comply with these regulations, or they could face fines and other penalties.
With increased regulatory powers to investigate misleading or unsupported claims, businesses need to be more diligent in tracking and reporting their environmental impact. The new rules will apply to all types of businesses, regardless of industry, that publicly communicate about their sustainability efforts.
Frequently Asked Questions
What is Bill C-59?
Bill C-59 introduces changes to Canada’s Competition Act to prevent greenwashing. Businesses that make environmental claims about their products or services must now provide clear evidence to support those statements, ensuring they are accurate and not misleading.
Why should your business care about Bill C-59?
The amendments mean that companies face more scrutiny over their environmental marketing. You need to verify your sustainability claims with solid data to avoid potential greenwashing penalties. If your business is making or plans to make any public statements about sustainability, it’s crucial to update your practices.
When does Bill C-59 come into effect?
The law comes into force on June 20, 2024. From this date forward, all companies making
public environmental claims must comply with the new rules.
What are the risks of non-compliance?
Failing to meet the requirements can result in fines or legal action. Under Bill C-59, authorities have more power to investigate and penalize companies for making misleading or unsubstantiated claims about their environmental impact.
How can your business prepare for Bill C-59?
To align with the changes:
- Review all environmental claims to make sure they are supported by verifiable data.
- Set up emissions tracking for Scope 1, 2, and 3 emissions, including employee commuting, using tools like the SCOPE software developed by Standard Carbon Inc.
- Update marketing materials to ensure that all statements about sustainability are accurate.
- Train your team on the new regulatory requirements.
- Conduct regular audits of your claims and data.
What is greenwashing, and why does it matter under Bill C-59?
Greenwashing occurs when companies make exaggerated or misleading claims about their environmental initiatives. Bill C-59 targets this by holding businesses accountable for any public sustainability claims. Companies need to provide evidence for these claims or risk facing penalties.
Who does Bill C-59 apply to?
It applies to any company that makes public sustainability claims, regardless of industry or size. If your business communicates information about environmental impact, you need to make sure your statements are accurate and well-supported.
Overview and Impact on Businesses
Bill C-59, or the Fall Economic Statement Implementation Act, 2023, amends Canada’s Competition Act to introduce stricter rules for environmental claims made by companies. The amendments, which take effect on June 20, 2024, aim to combat greenwashing by requiring businesses to provide verifiable evidence for their sustainability claims. Companies must now review their practices and statements to ensure they comply with these regulations, or they could face fines and other penalties.
With increased regulatory powers to investigate misleading or unsupported claims, businesses need to be more diligent in tracking and reporting their environmental impact. The new rules will apply to all types of businesses, regardless of industry, that publicly communicate about their sustainability efforts.
If you have more questions or need help preparing for the new regulations, reach out to Standard Carbon Inc. Our experts are ready to support you in meeting the requirements of Bill C-59.
IMPLICATIONS FOR BUSINESSES
Understanding Bill C-59
Bill C-59, known as Canada’s Anti-greenwashing bill, brings significant changes to Canada’s Competition Act aimed at preventing greenwashing and ensuring transparency in environmental claims made by businesses.
Who should you trust?
ISO 14065:2020 STANDARD
Standard Carbon is one of six Verification Validation bodies accredited by the Standards Council of Canada under ISO 14065:2020 in Canada. This allows you to be assured that your efforts to help our planet are legitimate and trustworthy.
The SCC Accreditation Symbol is an official symbol of the Standards Council of Canada, used under license.
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