May 8, 2024

Submission on Strengthening the Climate Resilience and Sustainability of the Ontario Financial Services Sector

The Financial Services Regulatory Authority of Ontario (FSRAO) has an important role in supervising the integrity of the financial system. The Canada Climate Law Initiative makes this submission to request that FSRAO develop specific guidelines on the management of climate-related risks for entities in the sectors it supervises. We share seven recommendations to enhance Ontario’s oversight of financial services and fill gaps that currently exist.