We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
Climate Policy Engagement Overview: The Business Council of Canada is actively engaged with climate policy and holds mixed positions. The organization supports climate action in its top-line messaging but appears to support a continued role for coal and fossil gas in the energy mix.
Top-line Messaging on Climate Policy: The Business Council of Canada holds positive positions towards climate policy in its top-line messaging. In blog posts published in February 2022 and May 2023, the organization supported achieving net-zero emissions by 2050 and the use of government regulation to respond to climate change. The organization also supported initiatives complementary to the UN Climate Treaty in a March 2023 lobbying disclosure. However, as below, its top-line messaging does not match its more specific policy advocacy.
Engagement with Climate-Related Regulations: The Business Council of Canada’s engagement with climate related regulation is mixed. The organization disclosed its support for a "national approach" to carbon tax in Canada in a March 2023 filing in the federal lobbying registry. However, the organization appeared unsupportive of both the carbon tax and the cap-and-trade system proposed under the Oil and Gas Emissions Cap, stating that the policy would impact the competitiveness of oil and gas production, as per a report published in March 2023. In the same report, the organization did not support the Clean Fuels Regulations in Canada, which require liquid fossil fuel suppliers to gradually reduce the carbon emissions to 2016 levels, emphasizing investment uncertainty.
Positioning on Energy Transition: The Business Council of Canada seems to support the energy transition in broad terms. However, it also appears to support a role for fossil fuels in the energy mix, contrary to IPCC’s recommendations that call for reduction in fossil fuel use. For instance, in a letter to the Canadian Prime Minister from BCC CEO Goldy Hyder in August 2022, the organization advocated for Canada to increase its fossil gas supplies and export to Germany. Moreover, the organization supported the expansion of Canadian oil and fossil gas on the global energy market in a May 2023 blog post.
There is some evidence of the organization’s support for clean technology deployment. In a February 2022 blog post, the organization called for government investment in carbon capture, utilization and storage (CCUS), and supported the use of government incentives to accelerate growth in the electric vehicle sector.