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 Initiative (CCLI), we would like to extend our warmest congratulations on your election victory and appointment as Prime Minister of Canada. Your leadership and commitment to promoting Canada’s economic growth while ensuring environmental sustainability are both timely and necessary.

We are encouraged by your government’s focus on sustainable finance measures, including:

• the voluntary, made-in-Canada green and transition finance taxonomy;
• the issuance of transition bonds; and
• the establishment of comprehensive climate risk disclosure for companies across the country, which will contribute to aligning Canada with key trade partners like the United Kingdom.

These initiatives align with our longstanding commitment to fostering climate accountability and transparency in the private sector.

However, we must express our concern that the Canadian Securities Administrators (CSA), which seeks a harmonized approach to securities regulation in Canada, has paused its work on developing a new mandatory climate-related disclosure rule and amendments. It is essential that the federal government demonstrate leadership to ensure that Canada’s financial markets are transparent, credible, and aligned with global standards. We urge your government to take decisive action in advocating for strong and enforceable federal climate disclosure standards to enhance transparency for investors, better assess climate risks and opportunities, enable the development of transition plans, and help align capital towards a sustainable, resilient, and competitive economy.
 
We look forward to continued collaboration with your government to advance Canada’s leadership in sustainable finance.
 
Once again, congratulations, and best wishes for success during your term as Prime Minister.
 
Sincerely,
Sonia li Trottier
Director, Canada Climate Law Initiative