Annual Report 2024-2025
We can not underplay the impact climate change had on our planet and on our lives. The burning of fossil fuels, the primary cause of climate change, has led to an increase in extreme weather events globally.
We watched in horror as wildfires burned throughout the country, Hurricane Debby struck Québec, flooding hit Ontario, Arctic communities bore the brunt of unusual heatwaves, while Manitoba, Nova Scotia, Saskatchewan, British Columbia, and Alberta all faced severe storms.
These and other severe weather events affected hundreds of thousands of Canadians. In 2024, for the first time in Canadian history, insured damage caused by severe weather events surpassed $8 billion. Smoke from larger and more frequent wildfires exacerbated asthma and other health conditions, and the aftermath of climate-related fires and floods took a significant toll on mental health.
When we most needed our leaders to step up, Argentina withdrew negotiators from COP29 summit and fossil fuel lobbyists attended the climate change conference in Baku.
While we were pleased that the Canadian Sustainability Standards Board (CSSB) released its first sustainability and climate disclosure standards in December 2024, we were disappointed to see the CSSB included an additional year for the reporting of scope 3 emissions. Effective climate action requires measuring and reducing scope 3 emissions. The CSSB delayed progress by not requiring Canadian entities to disclose their scope 3 emissions until 2028.
To kick off 2025, Canada’s major banks left the Net-Zero Banking Alliance, an initiative of “leading global banks committed to aligning their lending, investment, and capital markets activities with net-zero greenhouse gas emissions by 2050.”
Then in April 2025, the Canadian Securities Administrators announced their decision to indefinitely stop work on sustainability-related disclosure requirements. After more than three years of anticipation, we were deeply disappointed by this major setback for Canada’s progress in corporate climate accountability.
Through the challenging times, it is even more important to celebrate the wins.
The Government of Canada’s 2025 National Inventory Report shows that action to combat climate change is having an effect: greenhouse gas emissions have dropped to their lowest level in 27 years (excluding pandemic years).
We have witnessed important progress this year and have much to be appreciative of, particularly the hard work of our network and colleagues working to advance climate action.
Ontario
Counsel, Torys LLP
Drawing on a deep understanding of environmental and climate change law and policy, Claire helps clients advance major projects, navigate complex government regulation, resolve project-related disputes, and develop governance and accountability frameworks. She brings a wealth of knowledge and experience to both companies and governments, particularly in the energy, infrastructure and mining sectors. Claire’s background […]Ontario
Partner, Resilient LLP
Jonathan McGillivray is a partner at Resilient LLP. He maintains a specialized practice in all aspects of climate change and clean energy law and advises on a variety of mandates driven by the transition to a net-zero economy. Jonathan assists domestic and global clients on climate and net-zero strategy, decarbonization initiatives, carbon finance, renewable energy […]The Canada Climate Law Initiative congratulates the Hon. Mark Carney on a successful campaign to serve as Prime Minister of Canada. Our initiative looks forward to working closely in partnership with the newly formed government. Below is an open letter sent to Prime Minister Carney. Dear Prime Minister Carney, On behalf of the Canada Climate Law […]
Read moreThe Canada Climate Law Initiative responded to the Canadian Sustainability Standards Board (CSSB) consultation on their proposed 2025-2028 Strategic Plan. To facilitate the adoption of the Canadian Sustainability Disclosure Standards (CSDS) 1 and 2 through a strengthened strategic plan, we recommend:
Read morePre-budget consultations are an opportunity for Canadians from across the country to contribute to shaping the Government of Canada’s policies and priorities for Canada’s future. The Canada Climate Law Initiative submitted recommendations to Finance Canada regarding priorities for the spring 2025 federal budget. We make three suggestions to improve federal management of climate-related financial risks […]
Read moreThe Canada Climate Law Initiative (CCLI) appreciates the opportunity to make recommendations to the Competition Bureau of Canada regarding the proposed guidelines on environmental claims under the Competition Act. The CCLI has identified two areas of importance in the proposed guidelines. The first pertains to the clarification of the scope of the new provisions under […]
Read moreInternational Accounting Standards Board (IASB) aims to offer further guidance to preparers by using examples regarding what may constitute decision-useful information in climate and sustainability reporting. The Canada Climate Law Initiative comments on IASB’s Exposure Draft Climate-related and Other Uncertainties in the Financial Statements, Proposed illustrative examples.
Read moreDr. Janis Sarra (Professor of Law Emertia, Peter A. Allard School of Law) appeared as part of a panel of witnesses to House of Commons’ Standing Committee on Environment and Sustainable Development in its study of the environment and climate impacts related to the Canadian financial system on October 30, 2024.
Read moreThe Canada Climate Law Initiative makes recommendations to the Competition Bureau Canada on the Competition Act’s new greenwashing provisions. We believe clear guidelines will help organizations understand their obligations and ensure their environmental claims comply with the law.
Read moreThe Canada Climate Law Initiative makes three recommendations to the Finance Committee regarding priorities for the next federal budget in this submission. We believe three key policy changes can effectively amplify federal action on the management of climate-related financial risks and opportunities, and help support a sustainable economy for Canadians.
Read moreIn June 2024, Bill C-59 was passed without amendments, strengthening consumer protections for greenwashing in Canada. While it led to some unintended consequences, we were pleased to see the government take steps to tackle greenwashing through the Competition Act.
In October 2024, the Government of Canada announced its intentions to advance a sustainable finance taxonomy and amend the Canadian Business Corporation Act.
Internationally, jurisdictions increasingly moved to mandate and implement voluntary corporate climate-related disclosures. As of December 19, 2024, 31 countries have introduced or are in the process of introducing the International Financial Reporting Standards (IFRS) Climate-related Disclosures (IFRS S2), including Canada.
Canadian technology companies are increasingly vulnerable to climate-related risks, including extreme weather events, supply chain disruptions, rising insurance costs, and more stringent regulatory requirements. As they navigate these growing challenges, directors across the sector must fulfill their legal duties of care, diligence, and loyalty by proactively overseeing climate-related financial risks and ensuring that climate considerations […]
Read moreJapanese directors should identify and manage risks and opportunities relating to climate change. If they don’t, they could face personal liability for failing to act in accordance with their legal duties. This report provides comprehensive legal guidance on corporate directors’ responsibilities under Japanese law, outlining their duties to identify, disclose, and manage climate-related risks.
Read morePlanning for climate change, beyond the farmgate and the immediate crop season, is the purpose of this guide, intended for farms smaller than 5,000 hectares (12,355 acres). Directors of smaller farm corporations need to have effective climate governance in place and consider climate-related risks and opportunities in their decision-making to ensure the farm business they […]
Read moreThe generosity of our funders enables us to deliver on the activities described here. We wholeheartedly thank the following foundations for their belief in us and their financial contributions:
Our 68 Climate Governance Experts across Canada give their time pro-bono to have conversations with companies at any stage of their climate journey. They are climate champions making important contributions to our mission, and to Canada’s climate goals as a whole.
From June 1, 2024 to May 31, 2025:
As we look forward, we see many reasons to be optimistic. Here are a few:
