The Canadian Securities Administrators (CSA) has announced a climate change disclosure review project to assess the current state of climate change disclosure in Canada and internationally. As part of the review, the CSA said it would carry out a consultation with investors and reporting issuers.
Currently issuers in Canada are required to disclose material risks which may include risks associated with climate change, among other environmental matters in their periodic disclosure.
Louis Morisset, CSA chair and president and CEO of the Autorité des Marchés financiers said: “In light of the increased scrutiny being placed upon reporting issuers’ climate-related disclosure, we believe it is appropriate to review the state of such disclosure in Canada As securities regulators, it is important to assess whether issuers provide appropriate disclosure regarding risks and financial impacts associated with climate change, which in turn assists investors in making informed investment decisions.”
CSA staff will start collecting information in spring and summer 2017, followed by the publishing of a progress report to discuss their findings and conclusions.
Additional details about the review project can be accessed here.
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