Our Publications
On the Horizon – Briefing note on TCFD-aligned mandatory disclosure in New Zealand
Canadian and other regulators globally are considering how best to embed disclosure and governance of climate-related financial risks and opportunities into financial reporting. This briefing note canvasses recent legislative initiatives in New Zealand as another example of a regulatory path towards net zero. In April 2021, the New Zealand Government introduced the Financial Sector (Climate-related […]
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 […]
Climate Change: Legal Implications for Canadian Pension Plan Fiduciaries and Policy-Makers
According to a new legal opinion by Randy Bauslaugh, pension funds have a duty to understand and manage the financial risks and opportunities that climate change poses to funds and beneficiaries. Mr. Bauslaugh identifies the legal obligations of pension fiduciaries to consider and manage climate risks, as with any foreseeable financial risk, and discusses the […]
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 […]
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, […]
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 […]