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ARTICLE · 20 OCTOBER 2023

For What It's Earth: Issue 34: October 19, 2023

Steptoe LLP
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Greenpeace Canada has filed a complaint against Suncor Energy, Canada's second-largest oil producer, with the Alberta Securities Commission, alleging Suncor is not adequately...

United StatesEnergy and Natural Resources
Steptoe LLP
Steptoe LLP

Litigation

Greenpeace Canada has filed a complaint against Suncor Energy, Canada's second-largest oil producer, with the Alberta Securities Commission, alleging Suncor is not adequately disclosing climate-related risks to its shareholders. The complaint focuses on Suncor's removal of warnings about the potential for its oil sands projects to become stranded assets in a low-carbon emissions scenario. The matter demonstrates the increased legal and shareholder scrutiny that major corporates are facing with regard to their climate-risk disclosures.

Legislation

This month, the European Council adopted two pieces of legislation: one to nearly double renewable energy consumption in the EU by 2030 and another to promote sustainable aviation fuel (SAF). In a related development, DHL, Neste, and sustainability-focused supply chain certification provider ISCC are collaborating to pioneer and test a new system, the ISCC Credit Transfer system, to track and transfer

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