July 17, 2025
Submission to BC’s Ministry of Energy and Climate Solutions for the CleanBC Review
The Canada Climate Law Initiative welcomes the opportunity to provide feedback on how British Columbia (BC) can further strengthen its climate ambition by aligning financial and corporate regulation with CleanBC’s objectives. CleanBC—the government’s roadmap to reduce climate-changing emissions by 40% below 2007 levels by 2030—has already delivered a suite of targeted programs, including climate-focused capital projects, carbon-neutral public sector initiatives, and the integration of climate change into routine ministry operations, as well as enhancements to provincial disaster-risk reporting. To ensure these policies achieve their full potential, CCLI offers four recommendations:
- Develop a BC‑specific Guideline on Climate Financial Risk Management for regulated financial institutions.
- Endorse and operationalize the Sustainable Finance Action Council’s (SFAC) Green and Transition Finance Roadmap across provincial regulatory frameworks.
- Amend Section 51 of the Pension Benefits Standards Regulation to require fiduciary duties to encompass climate‑related financial risks explicitly.
- Modernize the BC Business Corporations Regulation to mandate climate‑related financial disclosures for large corporations.