ASIC issues infringement notices to Black Mountain Energy Limited for greenwashing
COURT OR TRIBUNAL
Other
DATE FILED (OR FIRST HEARING DATE)
03/01/2023
LITIGATION TYPE
Corporate Accountability
SUBJECT MATTER
Misleading and deceptive conduct
REVIEW TYPE
N/A
SUMMARY
ASIC issued three infringement notices to energy company Black Mountain Energy Limited for greenwashing. Statements contained in three ASX announcements claimed that BME was creating a natural gas development project with ‘net-zero carbon emissions’ and that greenhouse gas emissions associated with Project Valhalla would be net zero. ASIC was concerned that BME either did not have a reasonable basis to make the representations, or that the representations were factually incorrect. BME paid $39,960 in compliance with the infringement notices. Payment of an infringement notice is not an admission of guilt or liability.
CASE DOCUMENTS
ASIC issues infringement notices to Black Mountain Energy Limited for greenwashing
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