In June 2024, Canada enacted consequential amendments to the Competition Act targeting “greenwashing”—the practice of making unsubstantiated or misleading environmental claims or targets—with significant monetary penalties for non-compliance. In comparison, the U.S. lacks specific greenwashing regulations, and new laws are unlikely under a Trump administration. The U.S. Securities and Exchange Commission paused its climate-related reporting rules, while recent Supreme Court rulings suggest it overstepped its authority. Actions by U.S. states vary. Some argue that stringent greenwashing laws create a chilling effect, discouraging even well-intentioned disclosures out of fear they could be misinterpreted or lead to penalties, and create tensions with securities laws that emphasize transparency and carbon neutral targets. Greenwashing restrictions also impact resource companies’ social license to operate, which relies on demonstrating sustainable practices and maintaining stakeholder trust. This presentation will examine new greenwashing laws, their interplay with securities disclosure obligations, and their impact on resource companies. The presentation will also provide practical advice on strategies to guide clients through these complexities, including rigorous reporting standards, enhanced internal controls, clear and evidence-based communications, and consultation with experts.
1 CLE Credit
This course has been accredited for CLE credit in Colorado. CLE credit hours shown are for Colorado only. A CLE course number for Colorado will be provided to attendees on their certificates of attendance once a course has been completed. New Mexico attorneys who complete a course must notify us (cle@rmmlf.org) because we are required to report credits for you. If this course has been approved for RPL/CPL credit with the American Association of Professional Landmen (AAPL), the credits will be listed below in a separate section for AAPL. If applicable, Component Codes for AAPL recertification will also be provided. Please contact RMMLF if you need independent verification by the provider of your attendance or participation for CLE purposes. Except as provided above, RMMLF generally does not apply for accreditation from any other MCLE/CPD organizations for its online legal education program. Upon completion of a program a certificate of attendance will be issued to all attendees. Except as provided above, attendees must verify with their respective state bars and CPD organizations and their specific rules as to whether or not the certificate of attendance will be recognized by that body for MCLE/CPD purposes, and the number of CLE/CPD credits that may be available. The live presentation of the on-demand program has been accredited in most mandatory states as part of a larger course, but such accreditation does not assure recognition of the on-demand program.
MICHAEL J. BILES is a Partner at King & Spalding in Austin, Texas. He is a litigator who represents corporations and their officers and directors in complex business disputes. Mike focuses on securities litigation in the federal and state courts. As a partner in our Corporate and Securities Litigation practice, Mike represents companies and company insiders in securities cases, including class actions, investigations and regulatory matters. An experienced litigator, Mike counsels public companies, officers, directors and securities underwriters in class actions and derivative lawsuits. He also represents companies and company insiders in investigations and enforcement actions by the Securities and Exchange Commission (SEC) and other regulatory agencies. Mike represents and advises companies dealing with significant corporate transactions, including fiduciary obligations in mergers and acquisitions. He also represents corporate officers and directors in bankruptcy adversary proceedings involving alleged breaches of fiduciary-duty and fraudulent transfer claims. An author and speaker on securities law topics, Mike has been ranked by Chambers and Partners for Securities Litigation since 2018 and has been listed by Super Lawyers as a Texas Super Lawyer “Rising Star” for 2006–2010, and a “Super Lawyer” every year since 2012.
CASSANDRA BROWN is a Partner in the Competition, Antitrust & Foreign Investment Group at Blakes IN Toronto, Ontario. She advises on all aspects of competition law, including mergers & acquisitions, joint ventures, distribution practices, greenwashing, criminal and civil investigations, compliance, as well as foreign investment transactions under the Investment Canada Act. Her clients span a variety of industries, including energy, mining, technology, pharmaceutical, consumer products, agricultural, telecommunications, transportation, aviation, financial services, manufacturing, automotive and real estate. She has completed secondments to Coca-Cola Limited, a major international law firm based in London, and the Blakes New York office. Cassandra was also a sessional adjunct professor of competition regulation at Osgoode Hall Law School. Cassandra is the co-author of Competition and Antitrust Laws in Canada: Mergers, Joint Ventures and Competitor Collaborations and co-author of the Competition Act: Commentary and Annotation. Cassandra is recognized as a leading lawyer in Chambers Canada 2024: Canada’s Leading Lawyers for Business (Competition/Antitrust), Lexology Index: Canada 2024 (Competition), and The Legal 500 Canada 2025.
If available, this course will include materials (PowerPoints presentations and scholarly papers) authored by the speaker or speakers. The materials will be downloadable while viewing the presentation video.
