The Australian Competition and Consumer Commission (ACCC) is investigating claims regarding six companies that may have engaged in misleading or deceptive conduct when making public statements on climate change policy.
The claims were brought to the attention of the ACCC by the Australian Conservation Foundation and the Australian Justice Program to determine whether politicians, policymakers and the public have been deceived by the six companies including, Rio Tinto, Woodside, Xstrata, Boral, Caltex and BlueScope Steel.
The complaint outlines 14 instances in which the six corporations made statements about the impacts of the Government’s proposed Carbon Pollution Reduction Scheme (CPRS). The complaint contends these statements are overstated and contradictory to the companies’ disclosures to shareholders and independent analysis.
ACF executive director, Don Henry said there is sufficient evidence for investigating possible breaches of the Trade Practices Act.
“Some of Australia’s biggest corporate polluters appear to be presenting the worst case to government and the public, in an effort to gain excessive free permits, while presenting the best case to investors, in order to keep their share prices up.
“ACF urges business to be part of the solution to climate change, not just part of the problem,” Henry said.
People who read this, also liked:
Business leaders to become climate change ready with new program
