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Sep 21st, 2022

The Net Zero Investor Playbook

Investor Leadership Network’s Net Zero Investor Playbook offers an inventory of approaches institutional investors are taking to transition investing and highlights key challenges. The Net Zero Investor Playbook summarizes of the wide range of approaches to transition investing that investors are taking and categorizes them into four themes: Portfolio emissions forecasting and target setting Alignment […]

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Jul 29th, 2022

Primer on Climate Change: Directors’ Duties and Disclosure Obligations 2nd edition

The Commonwealth Climate and Law Initiative has worked with the Climate Governance Initiative to produce the second edition to the Primer on Climate Change: Directors’ Duties and Disclosure Obligations. The Primer provides an overview of contemporary evidence that climate change presents foreseeable, and in many cases material, financial and systemic risks that affect corporations and […]

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Jul 1st, 2022

Global trends in climate change litigation: 2022 snapshot

Climate change litigation continues to grow in importance year-on-year as a way of either advancing or delaying effective action on climate change. In 2022, the Intergovernmental Panel on Climate Change (IPCC) recognised the role of litigation in affecting “the outcome and ambition of climate governance”. The latest edition of the Grantham Research Institute annual report […]

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Jun 23rd, 2022

Climate Change Litigation: What Board Directors Need to Know

Climate change litigation is increasing, both in terms of the number of cases being brought and the routes which claimants are taking. Claims against governments can affect the policy and operating environment for companies, or result in delays or rejection of regulatory approvals. Litigation against companies is increasing, and claims are now being brought against […]

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Jun 7th, 2022

Climate Change Risk on the Boardroom Table

Renowned governance expert, Carol Hansell, has updated her widely read opinion on the responsibilities of directors in addressing climate change risk. Climate change and the risks it presents are undeniable. How should corporations and their boards address this risk? Are there standards and tools to support their work? Carol Hansell explores the answers to these […]

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Jun 3rd, 2022

A New Dawn in Climate Disclosure: Comparing Canada’s proposed National Instrument 51-107 with proposed SEC rules and IFRS/ISSB standards

Policies on disclosure of climate-related risks and opportunities are rapidly developing in Canada and globally.  The Canada Climate Law Initiative (CCLI) has produced this chart to allow policymakers, investors, and civil society organizations to compare proposals made by Canadian securities regulators in proposed National Instrument 51-107 Disclosure of Climate-related Matters, with the United States Securities […]

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Apr 29th, 2022

The Chairperson’s Insights into Climate Action

The Chairperson’s Insights into Climate Action provides a summary of highlights from interviews with 16 members of the World Economic Forum’s Community of Chairpersons on the topic of climate action. It explores key issues and best practices for board members across strategy, risk and opportunity, stakeholders, board competence and operations in relation to climate. It provides answers […]

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Mar 31st, 2022

Exposure Draft – IFRS S2 Climate-related Disclosures

The International Sustainability Standards Board issued an exposure draft on disclosure of information about its exposure to climate-related risks and opportunities.

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Mar 30th, 2022

Summary of Submissions to Canadian Securities Administrators on Proposed National Instrument 51-107 Disclosure of Climate-related Matters

The Canadian Securities Administrators (CSA) received 131 submissions on proposed National Instrument 51-107 Disclosure of Climate-related Matters (NI 51-107) during the four-month public consultation period, of which 94% were from organizations and 6% were from individuals. We published a summary of the 131 submissions. This is a Canada Climate Law Initiative publication.

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Mar 15th, 2022

The TNFD Nature-Related Risk & Opportuniy Management and Disclosure Framework Beta v0.1

More than half of the world’s economic output – US$44 trillion of economic value generation – is highly or moderately dependent on nature. Yet most companies, investors and lenders today inadequately account for nature-related risks and opportunities in their decisions. The Taskforce on Nature-related Financial Disclosures (TNFD) was established in response to the growing appreciation […]

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Feb 28th, 2022

Fossil Fuel Subsidies in Canada: Governance Implications in the Net-Zero Transition

Canada ranks highly among the developed countries that have provided government support to the fossil fuel sector, but this situation is changing. To address the climate emergency, Canada has legally committed to achieving net-zero carbon dioxide (CO2) and other greenhouse gas (GHG) emissions by 2050. How our federal, provincial, and territorial governments spend public dollars […]

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Jan 14th, 2022

Using scenario analysis to assess climate transition risk

Together with six Canadian financial institutions, the Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) developed scenarios that will help the financial sector identify, measure and disclose climate-related risks. These scenarios were not intended to be forecasts or predictions. Rather, they were specifically designed to capture a range of potential outcomes and […]

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Jan 11th, 2022

The Global Risks Report 2022

The Global Risks Report series tracks global risks perceptions among risk experts and world leaders in business, government, and civil society. It examines risks across five categories: economic, environmental, geopolitical, societal, and technological. Every year the report also analyses key risks to explore further in deep-dive chapters—these could be risks that feature prominently on our survey, those […]

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Jan 11th, 2022

Retail’s Route to Net-zero Emissions: The Canadian Retail Sector and Effective Climate Governance

Authored by Dr. Janis Sarra, Professor of Law at the University of British Columbia and Principal Co-Investigator of the CCLI, the guide provides an accessible summary of the legal duties of retail directors and officers in the transition to a net-zero economy. It offers examples of best practices in climate governance as well as a […]

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Dec 10th, 2021

Directors’ Liability and Climate Risk: White Paper on Hong Kong

This White Paper complements and extends the analysis in the “Legal Opinion on Directors’ Duties and Disclosure Obligations under Hong Kong Law in the Context of Climate Change Risks and Considerations”. It is well-established that climate-related risks pose a material threat to the financial performance of companies and the authorities in Hong Kong have issued […]

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Nov 25th, 2021

CDSB Framework Application guidance for biodiversity-related disclosures

The CDSB Framework application guidance for biodiversity-related disclosures (the Biodiversity Application Guidance) has been produced by CDSB to assist companies in the disclosure of the material information about the risks and opportunities that biodiversity presents to an organisation’s strategy, financial performance and condition within the mainstream report (biodiversity-related financial disclosure). It is designed to supplement […]

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Nov 24th, 2021

Fiduciary Duties and Corporate Climate Responsibility

In this paper, Professor Cynthia Williams takes up this question by reference to a public law issue much in focus today, that of climate change. In Part I, she provides an extremely brief overview of the understanding of climate risk as a financial risk, connecting that overview to the question of why private law fiduciary […]

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Nov 22nd, 2021

Future Urban Risk Landscapes: An insurance perspective

By 2050, more than two thirds of the world’s population is projected to live in cities. Urbanisation is associated with fundamental socio-economic changes that present formidable challenges to socio-economic resilience and have significant risk management and insurance implications. This report explores the link between urbanisation and the dynamics of risk landscapes and examines insurers’ potential […]

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Nov 11th, 2021

Directors’ Guide to the SASB Standards

This Guide to SASB Standards for Corporate Directors provides industry-by-industry guidance on how directors can use the SASB Standards to inform and enhance their engagement with management. SASB Standards identify the sustainability issues most likely to impact financial performance of companies in 77 industries. For every industry, Guide suggests questions that facilitate a more complete […]

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Oct 31st, 2021

Sink or Swim: Transforming Canada’s economy for a global low-carbon future

The global low-carbon transition needed to avoid the worst impacts of climate change has already begun sweeping across economies and industries around the world, and it is building strength. In response, Canada faces a critical choice that will define our economic prospects for generations: will we fight against the tide, simply tread water, or will […]

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Oct 31st, 2021

Legal Opinion on Directors’ Duties and Disclosure Obligations under Hong Kong Law in the Context of Climate Change Risks and Considerations

We are instructed by the Commonwealth Climate and Law Initiative to provide our joint opinion on: (i) the extent to which directors of for-profit corporations are permitted or required, in the discharge of their duties under Hong Kong law, to have regard to considerations and risks associated with climate change; and (ii) in the case […]

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Oct 26th, 2021

Canada’s transition to net zero: Accelerating collaboration to meet 2050

CPA Canada’s report on Canada’s Transition to Net Zero: Accelerating Collaboration to Meet 2050 offers practical actions key players can take to facilitate a unified, inclusive, and just transition that positions Canada to remain competitive in a global low-carbon future. The report will help Canada’s key economic sector leaders, policymakers, and the investment community, by providing them […]

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Oct 20th, 2021

Fiduciary Duties and Climate Change in the United States

Our understanding of climate change has evolved from an “ethical, environmental” issue to one that presents foreseeable financial and systemic risks (and opportunities) over mainstream investment horizons. This evolution has substantially changed the relevance of climate change to the governance of corporations. A critical corollary of that evolution is that there are implications for the […]

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Oct 14th, 2021

Task Force on Climate-related Financial Disclosures (TCFD) – 2021 Status Report

The latest TCFD status report describes progress on climate-related disclosure and TCFD implementation efforts, insights, and challenges. “Since the release of the 2020 TCFD status report, over 1,000 additional organizations have pledged support for the TCFD recommendations. As of October 6, 2021, the Task Force had over 2,600 supporters globally, including 1,069 financial institutions, responsible […]

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Oct 14th, 2021

Task Force on Climate-related Financial Disclosures (TCFD) – Guidance on Metrics, Targets, and Transition Plans

The Metrics, Targets, and Transition Plans guidance describes recent developments around climate-related metrics and users’ increasing focus on information describing organizations’ plans for transitioning to a low-carbon economy. The guidance also describes a set of cross-industry, climate-related metric categories that the Task Force believes all organizations can disclose.

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Oct 4th, 2021

Directors’ Liability and Climate Risk White Paper on India

Climate change as a material financial riskClimate change has garnered significant attention given that it poses a serious challenge to sustainable development. No longer is it merely within the domain of voluntary conduct on the part of corporations. Instead, it is a material financial risk that corporations encounter, thereby imposing duties on the boards of […]

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Sep 7th, 2021

Legal Opinion – Directors’ obligations to consider climate change-related risk in India

The Commonwealth Climate and Law Initiative (CCLI) has commissioned a legal opinion, published today, by Mr. Shyam Divan, Senior Advocate, and Ms. Sugandha Yadav and Ms. Ria Singh Sawhney, Advocates, on directors’ duties and disclosure obligations regarding climate change. The legal opinion finds that: Directors must have regard to climate change-related risks in the course […]

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Aug 19th, 2021

Climate-related Legal Risks for Financial Institutions: Executive Brief

Introduction Financial sector risk leaders, risk managers, and board risk committees are increasingly aware of climate-related legal risks to financial institutions. In  Canada, the Office of the Superintendent of Financial Institutions (OSFI) has identified liability risk as a source of climate-related financial risk facing deposit-taking institutions, insurance companies, and pension funds. These risks include regulatory […]

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Aug 9th, 2021

Climate Change 2021: The Physical Science Basis

The Working Group I contribution to the Sixth Assessment Report addresses the most up-to-date physical understanding of the climate system and climate change, bringing together the latest advances in climate science, and combining multiple lines of evidence from paleoclimate, observations, process understanding, and global and regional climate simulations.

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Jun 24th, 2021

Primer on Climate Change: Directors’ Duties and Disclosure Obligations

The evolution of our understanding of climate change from an ethical or environmental issue to one that presents foreseeable financial and systemic risks (and opportunities) over short, medium and long-term investment horizons has significantly changed its relevance to the governance of both corporations and investors. This evolution means there are serious implications for the duties […]

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Jun 2nd, 2021

Following the Footpath to Mandatory TCFD Disclosure in the United Kingdom: Lessons for Canadian and Other Regulators

Regulators in Canada and elsewhere are considering regulatory changes to accelerate the transition towards net-zero carbon emissions. Part of that consideration is whether to adopt the Taskforce on Climate-related Financial Disclosures (TCFD) four pillar framework of governance, strategy, risk management, and metrics and targets. We can learn from regulators that have already adopted measures, in […]

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Jun 1st, 2021

Measuring Portfolio Alignment: Technical Supplement

The Task Force conducted a public consultation from October 29, 2020–January 28, 2021, to gather feedback on potential forward-looking metrics for financial institutions. In conjunction with this consultation, the Portfolio alignment Team (PAT) issued a report in 2020 titled Measuring Portfolio Alignment: Assessing the Position of companies and Portfolios on the Path to Net Zero. […]

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Jun 1st, 2021

Proposed Guidance on Climate-related Metrics, Targets, and Transition Plans

In 2017, the Financial Stability Board’s (FSB’s) Task Force on Climate-related Financial Disclosures (the Task Forceor TCFD) provided three recommended disclosures regarding climate-related metrics and targets (Figure A1) as well as guidance for all sectors and supplemental guidance for specific sectors supporting implementation of these recommended disclosures. When the Task Force issued its Final Recommendations […]

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May 18th, 2021

Net Zero by 2050: A Roadmap for the Global Energy Sector

The number of countries announcing pledges to achieve net-zero emissions over the coming decades continues to grow. But the pledges by governments to date – even if fully achieved – fall well short of what is required to bring global energy-related carbon dioxide emissions to net zero by 2050 and give the world an even […]

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May 6th, 2021

Driving Board Value in Changing Times

The stakes for board directors have never been higher. Organizations are facing an onslaught of new pressures driven by powerful stakeholders, changing social and environmental expectations, and the risks associated with unprecedented levels of transparency. At the same time, boards are increasingly expected to provide effective oversight while delivering tangible value. This program focuses on […]

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Apr 13th, 2021

Legal Opinion on Directors’ Responsibilities and Climate Change under Singapore Law

Company directors in Singapore could face personal liability if they fail to take action to address climate change risks, according to a new legal opinion by a team of independent legal counsel. The legal analysis finds that Singaporean directors are obliged to consider climate change impacts as part of their duties to act in the […]

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Apr 13th, 2021

Directors’ Liability and Climate Risk: White Paper on Singapore

Alongside the new Chan legal opinion on directors’ responsibilities and climate change under Singapore law, the CCLI are pleased to publish a new white paper: Directors’ Liability and Climate Risk: White Paper on Singapore. Authored by Dr. Ernest Lim, Associate Professor, NUS Law who is also co-author of the Chan legal opinion, the white paper […]

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Apr 12th, 2021

Climate Risk – Technical Bulletin

Climate change is a sustainability issue that is both ubiquitous and differentiated—and thus presents unique risks and opportunities for companies and investors. The 2021 edition of this bulletin provides an overview of SASB’s approach to climate-related financial disclosure. SASB’s Climate Risk Technical Bulletin is designed to help investors better understand, measure, and manage their exposure […]

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Mar 31st, 2021

Haida law of gina ‘waadluxan gud ad kwaagiida and Indigenous rights in conservation finance

Globally, we are facing an existential threat to biodiversity from human activities that have intruded into terrestrial, aquatic, and aerial ecosystems, exacerbating global warming. The Supreme Court of Canada has held that climate change “is a threat of the highest order to the country, and indeed the world.” Corporations and financial institutions increasingly recognize the […]

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Mar 8th, 2021

Life, Health, Property, Casualty: Canadian Insurance Company Directors and Effective Climate Governance

The insurance sector is important because it provides the financial safety net for many Canadians suffering losses associated with climate impacts. Insurance coverage is the guarantee that policyholder losses will be indemnified; yet climate-related weather events are growing in severity and frequency. Severe weather damage in Canada caused $2.4 billion in insured losses in 2020, […]

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Feb 23rd, 2021

Directors’ Duties Regarding Climate Change in Japan

Authored by Dr. Yoshihiro Yamada, Vice Dean of College of Law at the Ritsumeikan University, Dr. Janis Sarra, Professor of Law at the University of British Columbia, and Dr. Masafumi Nakahigashi, Vice-President at Nagoya University, the report outlines the three primary duties for directors of Japanese companies: duty of loyalty; duty to be compliant with […]

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Feb 22nd, 2021

360º Governance: Where Are The Directors In A World In Crisis?

In 1994, the Toronto Stock Exchange (TSX) accepted a new set of guidelines for board governance as developed in the report “Where Were the Directors?”. Triggered by the mixed response by the Canadian corporate sector to the stresses of the 1990–1991 recession, the development of the guidelines (also known as the “Dey Report”) was meant […]

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Feb 1st, 2021

Canada’s Net Zero Future: Finding Our Way in the Global Transition

Canada has committed to reach net zero greenhouse gas emissions by 2050, and we have many ways to get there. Canada’s Net Zero Future does not recommend any specific path to the 2050 goal. Instead, it provides a clear analysis of Canada’s options, significant drivers within and outside of Canada’s control, and the conditions that […]

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Feb 1st, 2021

How Supervisors Can Start the Conversation About Climate Risk

Speakers: Karen Badgerow, CEO, Isle of Man Financial Services Authority Dr. Naresh Singh, Toronto Centre’s Sustainability Advisor Clive Briault, Chair, Toronto Centre’s Banking Advisory Board Host: Anatol Monid, Senior Program Director, Toronto Centre

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Jan 28th, 2021

Duty to Protect: Corporate Directors and Climate-Related Financial Risk

Amid growing calls from regulators, financial standard organizations and institutional investors, Canadian corporations face pressure to adopt transparent climate-risk reporting. But first, they need greater clarity on the metrics and standards involved. Author Janis Sarra recommends that Canada clarify and adopt mandatory uniform reporting on climate metrics and finance, so that corporate officers and directors […]

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Jan 14th, 2021

Sustainable Finance and the Role of Securities Regulators

Erik Thedéen, Chair of the IOSCO Sustainable Finance Task Force and Jean Lorrain, Chair of Toronto Centre’s Securities Advisory Board discuss IOSCO’s recent report on sustainable finance and securities regulation. They discuss the current initiatives, both by regulators and the industry, including ESG-related international initiatives and challenges to investor protection.

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Jan 1st, 2021

Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks

Office of the Superintendent of Financial Institutions.

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Jan 1st, 2021

International IR Framework

The International Integrated Reporting Framework is used to accelerate the adoption of integrated reporting across the world.

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Jan 1st, 2021

Blended Finance: Implications for Supervisors

Blended finance is the practice of using international development grant funding to encourage international and domestic private investment in projects to address the funding gap needed to achieve the United Nations Sustainable Development Goals (SDGs) in emerging markets and developing countries (EMDCs). This funding gap was estimated in 2014 to be at least $2.5 trillion […]

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Jan 1st, 2021

Vers le développement minier durable

L’initiative Vers le développement minier durable (VDMD) représente l’engagement de l’AMC envers des pratiques minières responsables. Il s’agit d’un ensemble d’outils et d’indicateurs visant à stimuler le rendement, tout en veillant à ce que les principaux risques liés aux activités minières soient gérés de façon responsable dans les installations de nos membres.

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Dec 16th, 2020

Top-Down Carbon Budgets and Their Relationship to Non-Financial Reporting

In the context of the EU’s review of its non-financial reporting regime, the Sustainability Accounting Standards Board (SASB) organized a virtual panel discussion on the topic of carbon budgets and their relationship to non-financial reporting. As greenhouse gas emission reductions and international sustainability goals increasingly become focal points of corporate sustainability strategies, how can progress […]

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Dec 16th, 2020

ESG Integration Insights – 2020 Edition

SASB’s ESG Integration Insights series provides practical examples of institutional investors using SASB Standards to systematically and rigorously integrate ESG into their investment processes. SASB Standards have become a valued piece of market infrastructure used to evaluate ESG-related risks and opportunities. The enclosed case studies, written by leaders at top investment companies, detail many of […]

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Dec 1st, 2020

Audit Committees and Effective Climate Governance, A Guide for Boards of Directors

Authored by Dr. Janis Sarra, Professor of Law at the University of British Columbia, with contributing authors Meghan Harris-Ngae, Ernst & Young, Roopa Davé, KPMG, and Ravipal Bains, McMillan LLP, this guide draws together current legal standards and best practice guidance for Canadian audit committees, to assist them in taking a leadership role in effective […]

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Nov 18th, 2020

The Global GHG Accounting and Reporting Standard for the Financial Industry

The Standard, developed by the PCAF Global Core Team, provides detailed methodological guidance to measure and disclose GHG emissions associated with six asset classes: listed equity and corporate bonds; business loans and unlisted equity; project finance; commercial real estate; mortgages; and motor vehicle loans.

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Nov 1st, 2020

Chapter Zero: A climate change boardroom toolkit

This toolkit has been developed for Chapter Zero, the directors’ climate forum, by The Berkeley Partnership working with the Hughes Hall Centre for Climate Change Engagement in Cambridge. This toolkit has been deliberately designed to provide an accessible resource to be used and dipped in-and-out of, rather than as a detailed ‘academic’ document to be […]

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Oct 1st, 2020

ICGN Global Stewardship Principles

The ICGN Global Stewardship Principles (Principles) set out ICGN’s view of current best practices in relation to investor stewardship obligations, policies, and processes. These Principles provide a framework to implement stewardship practices in fulfilling an investor’s fiduciary obligations to beneficiaries or clients. We encourage all ICGN investor members to endorse the Principles, and we consider […]

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Sep 19th, 2020

The Goal 13 Impact Platform: Emerging Findings

The report investigates how companies are managing the transition to a low-carbon, resilient and valuable future, and highlights key learnings from the research so far, including company commitments, the drivers of change, key barriers and next steps.

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Sep 1st, 2020

The 1.5°C Business Playbook

Climate change is already harming societies and the global economy. Evidence shows that humanity is taking grave risks with the stability of the Earth’s life support system if global average surface temperature continues to rise. Reducing this risk means working together to stabilise temperature rise to a maximum of 1.5°C above pre-industrial temperatures. To achieve […]

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Aug 28th, 2020

Proposed Changes to the SASB Conceptual Framework & Rules of Procedures

The SASB Conceptual Framework sets out the basic concepts, principles, definitions, and objectives that guide SASB in its approach to setting standards for sustainability accounting; it provides an overview of sustainability accounting, describing its objectives and audience.

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Aug 3rd, 2020

The emergence of foreseeable biodiversity-related liability risks for financial institutions: A gathering storm?

Recent economic literature identifies liability as a key category of foreseeable financial risk associated with biodiversity loss. However, it has not, to date, provided further guidance on the nature and extent of litigation and legal risks that should be considered in determining the potential materiality of relevant risks for a given financial actor or system. […]

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Jul 9th, 2020

A4S Essential Guide to Management Information

The guide has been created to support finance professionals to develop and integrate the information needed to respond to social and environmental risk and opportunity into core management information processes.Business performance is no longer solely judged in terms of financials. So, the way decisions are made, and the information upon which they are made, needs […]

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Jul 6th, 2020

Questions to Assist Non-Executive Director Oversight of Physical Climate Risk Management

The climate is changing. For corporates, this means building resilience to the risks associated with a changing climate and adjusting to new stakeholder expectations and also meeting the changing needs and demands of customers and clients as they respond to the impacts of climate change. Ensuring that companies are braced for these changes requires clear […]

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Jul 1st, 2020

Application Guidance for Climate-Related Disclosures

Despite much progress in climate-related disclosure, many contend that more work is needed to ensure that reporting on material climate-related issues is of sufficient quality and detail to support decision-making by investors and others. The current standard of mainstream reporting on climate risks and opportunities means that there is an information deficit for investors and […]

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Jun 25th, 2020

Putting Climate Change Risk on the Board Room Table

In her opinion, titled “Putting Climate Change Risk on the Boardroom Table,” Ms. Hansell clarifies the role of the corporate board with respect to climate change and how it is unequivocal about the responsibility of corporate directors to include climate change risks and opportunities in their oversight and strategic direction of the companies they serve. […]

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Jun 1st, 2020

The Role of Auditors in Company-Prepared ESG Information: Present and Future

This publication builds on the concepts outlined in The Role of Auditors in Company-Prepared Information: Present and Future. We will provide an overview of what ESG reporting is, how investors are using the information, and how public company auditors are well positioned to enhance the reliability of ESG information given their public interest role. We […]

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May 22nd, 2020

Briefing for Finance: Biodiversity

Loss of nature and biodiversity can impact business operations. However, investing in biodiversity also offers opportunities. It can help to improve the long-term viability of business models, reduce costs and increase operational efficiency and resilience.

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Apr 30th, 2020

Implementing a Sustainable Finance Framework: Top Tips

The guidance builds on the A4S Essential Guide to Debt Finance and draws on the experience and examples of issuers to set out five top tips for treasurers. The top tips are based on the practical experience of treasurers, international guiding principles, and an extensive list of framework examples. The technical team of ACT and […]

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Apr 1st, 2020

Carbon Pricing in a Federal State: The Case of Canada

Canada has broad-based emissions pricing in place across the country. But this implementation shows a lack of uniformity, both in terms of policy design and policy implementation.

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Feb 7th, 2020

Insolvency Risk and Climate

There are numerous risks associated with climate change, including solvency risk. For example, there is a substantial shift in investment dollars away from carbon-intensive production activities towards new technologies in virtually every sector of the economy, which means diminished access to capital for some businesses. The Sustainability Accounting Standards Board has identified material financial impacts […]

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Feb 3rd, 2020

North America Corporate Scores 2019

CDP scoring lays down milestones marking the progress of a company’s sustainable journey. It provides a roadmap to companies to compare themselves to the best in class.

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Jan 1st, 2020

4 Questions For: Dianne Saxe on The Climate Change Crisis

Osgoode Professor Cynthia Williams has four questions for alumna Dianne Saxe ’74, ’91 LLM, ’91 PhD, one of Canada’s most respected environmental lawyers, on the climate change crisis.

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Nov 1st, 2019

Global Warming of 1.5 degrees Celsius

An IPCC Special Report on the impacts of global warming of 1.5°C above pre-industrial levels and related global greenhouse gas emission pathways in the context of strengthening the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty.

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Sep 1st, 2019

Investor Leadership Network Advocates for Stronger Climate Change Disclosure

The report shares the lessons learned by the Investor Leadership Network members while implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). TCFD Implementation, Practical Insights and Perspectives from Behind the Scenes for Institutional Investors is the product of the ILN’s climate change initiative and is intended to assist asset owners and […]

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Sep 1st, 2019

Special Report on the Ocean and Cryosphere in a Changing Climate

This Special Report on the Ocean and Cryosphere in a Changing Climate (SROCC) was prepared following an IPCC Panel decision in 2016 to prepare three Special Reports during the Sixth Assessment Cycle. By assessing new scientific literature, the SROCC responds to government and observer organization proposals. The SROCC follows the other two Special Reports on […]

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Aug 1st, 2019

Staff Notice 51-358: Reporting of Climate Change-related Risks

The focus on climate change-related issues in Canada and internationally has grown rapidly in recent years. In order to make informed investment and voting decisions, investors, particularly institutional investors, are seeking improved disclosure on the material risks, opportunities, financial impacts and governance processes related to climate change. Securities legislation in Canada requires reporting issuers (issuers) […]

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Aug 1st, 2019

Climate Change and Land

An IPCC Special Report on climate change, desertification, land degradation, sustainable land management, food security, and greenhouse gas fluxes in terrestrial ecosystems.

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Jun 14th, 2019

Final Report of the Expert Panel on Sustainable Finance

Canada has a strong, diversified and resource-rich economy; a world-leading financial sector; and excellent capacity for innovation. By harnessing these advantages, Canada can be among the leaders in the global transition to a low-emissions future, as a trusted source of climate-smart solutions, expertise and investment. Realizing this ambition will require a committed alliance between business, […]

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Jun 14th, 2019

The Expert Panel on Sustainable Finance – Executive Summary

Canada has a strong, diversified and resource-rich economy; a world-leading financial sector; and excellent capacity for innovation. By harnessing these advantages, Canada can be among the leaders in the global transition to a low-emissions future, as a trusted source of climate-smart solutions, expertise and investment. Realizing this ambition will require a committed alliance between business, […]

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Mar 1st, 2019

The Canadian Minerals and Metals Plan

The Canadian Minerals and Metals Plan is a milestone in Canada’s mining history. It includes a vision, principles and strategic directions that governments, industry and stakeholders can pursue to drive industry competitiveness and long-term success. This generational initiative will raise Canadians’ awareness of the importance of the minerals and metals sector, respond to ongoing and […]

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Feb 28th, 2019

The Greenhouse Gas Emissions Coverage of Carbon Pricing Instruments for Canadian Provinces

In this paper we provide a comparison of the coverage of Canadian carbon pricing systems. We define coverage as the proportion and types of emissions priced under the various systems, by emissions source. We compare provincially announced pricing systems to the federal benchmark (the minimum coverage provinces must meet) and the federal backstop, the pricing […]

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Feb 1st, 2019

Canada Profile – Climate Bonds

Climate Bonds Initiative is an international organisation working solely to mobilise the largest capital market of all, the $100 trillion bond market, for climate change solutions

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Jan 26th, 2019

Time to Act: Response to questions posed by the Expert Panel on Sustainable Finance on Fiduciary Obligation and Effective Climate-related Financial Disclosures

The Expert Panel on Sustainable Finance has been commissioned by the Canadian Government to determine how best to generate sustainable finance, a significant challenge given the carbon intensity of Canada’s economy. The Expert Panel has defined sustainable finance as capital flows, risk management activities and financial processes that assimilate environmental and social factors as a […]

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Jan 16th, 2019

Severe Weather Causes $1.9 Billion in Insured Damage in 2018

Severe weather across Canada continues to highlight the financial costs of climate change to insurers and taxpayers. In 2018, insured damage for severe weather events across Canada reached $1.9 billion, according to Catastrophe Indices and Quantification Inc.

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Jan 1st, 2019

TCFD Implementation Guide

In June 2017, the Task Force on Climate-related Financial Disclosures (TCFD) published recommendations for climate-related financial risk disclosures in mainstream corporate filings. More than 600 organizations have publicly expressed support for the recommendations but many have cited a need for practical guidance on how to implement them. The Climate Disclosure Standards Board (CDSB) and the […]

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Jan 1st, 2019

Winds of Change: Environmental Sustainability Rises to the Board Level

With high-impact weather events on the rise, natural resource scarcity increasing, and the other looming impacts of climate change, boards of directors are facing intense pressure from stakeholders to get more involved in environmental sustainability governance. Diligent Institute set out to understand how directors and boards globally are engaging with this complex set of issues. […]

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Jan 1st, 2019

Canada Infrastructure Bank

The Canada Infrastructure Bank is a new Crown corporation that operates at arm’s length from government and is governed by a Board of Directors. The Bank is responsive and accountable to the Government and Parliament through the Minister of Infrastructure and Communities. As part of the Government of Canada’s historic Investing in Canada plan, the […]

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Nov 14th, 2018

Climate Change and Legal Risk

In this presentation, Dr. Janis Sarra, Presidential Distinguished Professor and Professor of Law University of British Columbia, outlined the fiduciary obligations of corporate directors and pension fiduciaries as they relate to climate change. Professor Cynthia A. Williams, Osler Chair in Business Law, Osgoode Hall Law School provided an overview of the Task Force on Climate-related […]

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Nov 1st, 2018

SASB Standards

SASB Standards identify the subset of environmental, social, and governance issues most relevant to financial performance in each of 77 industries. They are designed to help companies disclose financially-material sustainability information to investors. SASB’s rigorous and transparent standard-setting process includes evidence-based research, broad and balanced participation from companies, investors, and subject matter experts, and oversight […]

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Sep 25th, 2018

Report from Canada’s Economic Strategy Tables: Seizing opportunities for growth

The Economic Strategy Tables—a new model for industry-government collaboration—were announced as part of the Government of Canada’s Innovation and Skills Plan to support economic growth in six key sectors: advanced manufacturing, agri-food, clean technology, digital industries, health/bio-sciences and resources of the future. The industry-led work of these Tables has resulted in sector-specific plans for economic […]

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Aug 27th, 2018

Canadian perspectives on recommendations from the Task Force on Climate-related Financial Disclosure

Canadian perspectives on recommendations from the Task Force on Climate-related Financial Disclosure. What do Canadian organizations think about the TCFD recommendations? Watch this series of video interviews to understand how Canadian investors and companies are embracing enhanced climate change disclosure.

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Apr 5th, 2018

Staff Notice 51-354: Report on Climate-Related Disclosure

Staff of the Canadian Securities Administrators (CSA) are publishing this notice to report on the findings of our project to review the disclosure by reporting issuers (issuers) of risks and financial impacts associated with climate change. The project included research, consultations and review of mandatory continuous disclosure (CD) documents, sustainability reports and other voluntary disclosures […]

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Apr 1st, 2018

Directors’ Liability and Climate Risk: Canada – Country Paper

The paper is a more accessible form of reporting the research in the first two papers. It is one of country studies from four jurisdictions, complemented by conferences in Australia (August 2016), Canada (October 2017), South Africa (January 2018) and the UK (June 2016). The national legal papers follow a uniform structure to facilitate comparison […]

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Apr 1st, 2018

Fiduciary Obligations in Business and Investment: Implications of Climate Change

In Obligations in Business and Investment: Implications of Climate Change, legal analysis by Dr Janis Sarra, Presidential Distinguished Professor and Professor of Law University of British Columbia, shows that directors, officers and pension fund trustees must identify and address climate-related financial risk or they may be personally liable for breach of their fiduciary obligation or duty of […]

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Apr 1st, 2018

Disclosure of Information Concerning Climate Change: Liability Risks and Opportunities

Climate change presents material – if not unparalleled – economic risks and opportunities to companies and investors, given changes in the physical environment brought about by climate change, and given regulatory efforts to limit those changes and adapt to the environment as it changes. As a result of the increasing awareness of climate-related financial risks, […]

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Jan 1st, 2018

Sustainable Finance and Investing in a Responsible Future

The following memorandum provides an overview of how universities are addressing climate change through their endowment assets. In the introduction, a brief taxonomy of sustainable investing is provided – spectrum of capital that looks at traditional investing, responsible investing, sustainable investing, impact investing and philanthropy. We also review some recent examples and trends of sustainable […]

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Jan 1st, 2018

Stewardship Investing Report – 2020

At CDPQ, we invest constructive capital knowing that performance and progress go hand in hand. By directing capital toward a greener and more equitable transition, we can generate growth while contributing to a more sustainable world.

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Jan 1st, 2018

200 Million Tonnes of Opportunity

200 Million Tonnes of Opportunity highlights the work of leaders in 12 sectors across Canada. It crunches a decade’s worth of data to reveal crucial business intelligence and valuable insights for Canadian SME leaders that would like to profitably reduce their emissions, and for governments that would like them to succeed. The report provides: A detailed […]

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Oct 1st, 2017

FAQs – Statement of Investment Policies and Procedures (SIPP)

Under section 78(1) of Regulation 909 under the Pension Benefits Act (PBA), the administrator of a pension plan is required to establish a statement of investment policies and procedures (SIPP) for the plan that meets the requirements of the federal investment regulations (FIR), as modified in sections 47.8 and 79 of the Regulation.  Effective January 1, […]

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Sep 1st, 2017

Converging on Climate Risk: CDSB, the SASB, and the TCFD

After extensive deliberation and discussion, the Task Force on Climate-Related Financial Disclosures (TCFD) issued its final recommendations in June 2017, marking an important turning point for the resilience of global financial markets. As Task Force Chairman Michael R. Bloomberg has stated, “without effective disclosure of [climate-related] risks, the financial impacts of climate change may not […]

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Aug 1st, 2017

Climate change briefing: Questions directors should ask

Climate change is a business issue. This publication outlines 20 questions for boards of directors to ask in overseeing organizational risk management, business strategy and performance in the context of climate change.

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May 10th, 2017

Calculator for Greenhouse Gases and Common Air Contaminants

Environment Canada (EC) created the Greenhouse Gas (GHG) Emissions and Criteria Air Contaminants (CAC) Calculator to help environmental groups and other users estimate GHG and CAC emission reductions from different environmentally sound actions undertaken during the lifespan of their projects. The tool is targeting recipients of EC funding programs to help them report on their […]

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Sep 1st, 2016

The Future of Canda’s Oil and Gas Sector: Innovation, Sustainable Solutions and Economic Opportunities

On 24 February 2016, the Committee unanimously passed a motion to explore the future of Canada’s oil and gas sector, with a focus on innovation, sustainable solutions and economic opportunities. Over the course of seven meetings, the Committee heard from 33 witnesses who highlighted a number of existing and emerging trends that are driving change […]

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Jul 7th, 2016

Northern Alberta Wildfire Costliest Insured Natural Disaster in Canadian History – Estimate of insured losses: $3.58 billion

Insurance Bureau of Canada (IBC) reports that the May 2016 northern Alberta wildfire is by far the costliest insured natural disaster in Canadian history. Catastrophe Indices and Quantification Inc. (CatIQ) estimates the insured property damage at $3.58 billion.

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Apr 7th, 2016

Managing Climate Risks: Highlight for business leaders

This report is for business leaders looking ahead. It explains why acting now to prepare for future climate realities makes good business sense. The report draws from the most up-to-date analysis of climate change impacts, risks and responses across Canadian sectors and highlights approaches and resources to enhance climate resilience.

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Oct 3rd, 2011

Corporate Value Chain (Scope 3) Accounting and Reporting Standard

Emissions of the anthropogenic greenhouse gases (GHG) that drive climate change and its impacts around the world The primary goal of this standard is to provide a standardized step-by-step approach to help companies understand their full value chain emissions impact in order to focus company efforts on the greatest GHG reduction opportunities, leading to more […]

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Oct 27th, 2010

Staff Notice 51-333: Environmental Reporting Guidance

The purpose of this notice is to provide guidance to reporting issuers (other than investment funds) on existing continuous disclosure (CD) requirements relating to environmental matters under securities legislation. This notice clarifies existing disclosure requirements relating to environmental matters and does not create any new legal requirements or modify existing ones. It is intended to […]

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