The Canadian Securities Administrators (CSA)
has issued guidance on environmental disclosure requirements.

Staff Notice 51-333 Environmental
Reporting Guidance
, will assist issuers in assessing which
information must be disclosed on material environmental matters,
such as risks related to weather patterns or environmental

CSA said environmental matters comprise a
broad range of issues, including air, land, water and waste. These
matters can affect issuers in several ways, including interrupting
operations, unplanned costs as well as affecting reputation,
capital expenditures, and a licence to operate.

Following consultations with investors,
issuers and experts, guidance will be provided on compliance with
disclosure rules in the following areas:

  • Environmental risks and related matters;
  • Environmental risk oversight and
  • Forward-looking information requirements as
    they relate to environmental goals and targets; and
  • Impact of adoption of IFRS on disclosure of
    environmental liabilities.