Black Mountain Energy paid AU$39,960 to company with infringement notices issued by ASIC

Australian Securities and Investment Commission (ASIC) has taken action for greenwashing against Black Mountain Energy Limited (ASX: BME).

In the media release, ASIC highlighted that Black Mountain Energy paid AU$39,960 to obey 3 infringement notices issued related to concerns about supposed false or misleading sustainability-related statements made to the ASX between 23 December 2021 and 8 September 2022.

ASIC issued infringement notices related to statements contained in BME’s 3 ASX announcements. These are:

• BME was creating a natural gas development project with ‘net-zero carbon emissions.
• The greenhouse gas emissions related with Project Valhalla would be net zero.

ASIC is concerned that BME does not have grounds to make the representations. ASIC also pointed those representations made by the Company was factually incorrect.

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