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Repsol, Spain's largest oil and gas company, is under fire from environmental groups for "greenwashing" its fuelsmeaning using palm oil instead of natural gasand is now facing a lawsuit from another company, Iberdrola, accusing it of unfair competition and misleading advertising, the Guardian reports.
Iberdrola, which is based in the country's Basque region and has more than 2 million electricity and gas customers, says Repsol's push for "sustainable, eco-fuels, carbon neutral, with a low carbon footprint or renewable" fuels doesn't jibe with the European Union's criteria for green products.
"They favor the overvaluation of assets considered green, which fuels the risk of bubbles," Iberdrola CEO Jon Imaz says.
Repsol, for its part, says it's focusing on decarbonization, meaning using less fossil fuel, while Iberdrola says it's focusing on competition, the Local reports.
Repsol, for its part, says Iberdrola's claims are "without foundation."
It says Iberdrola's claim that it's competing in an open market is "without foundation," as most of its customers use agricultural crops or
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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"It can take a good year (or two) for a new executive to learn everything about the nonprofit, from operations to processes to donor relationshipsespecially if they hire 'from away.' And discerning...more
Students in a tourism entrepreneurship course at the Macao University of Tourism have come up with a novel way to give back to the community. They've developed a marketing strategy for a store...more
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The Public Interest Law Foundation at Boston College Law School has been awarded a $225,000 three-year grant from the Cummings Foundation to help students provide pro bono legal services in...more
Foundation: Stocker Foundation
The Stocker Foundation has released its latest round of grants, with 109 projects receiving a total of $1.52 million. The grants, awarded to eight communities across the US, aim to lessen the...more
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Spotlight
Global Companies Appeal for Needed Market Changes in Renewable Energy
Global companies like General Motors, Wal-Mart, Bloomberg, Facebook, Hewlett-Packard, Intel, Johnson & Johnson, Mars, Novelis, Sprint, Proctor and Gamble and REI are calling out for necessary market changes to make it easier to buy and access more renewable energy.
