visimoney
TLDR:
- The Canadian Sustainability Standards Board (CSSB) has released proposed standards for sustainability and climate-related disclosures.
- The standards align with global efforts for increased transparency and draw from the ISSB’s disclosure criteria.
The CSSB has unveiled proposed standards for sustainability and climate-related disclosures in Canada. These standards align with global efforts for increased transparency and draw from the ISSB’s disclosure criteria. The initiative responds to environmental concerns and aligns with directives from Canadian Prime Minister Justin Trudeau. The proposed standards aim to enhance the quality of information available to investors by aligning with the IFRS’ inaugural sustainability and climate reporting standards, while also incorporating Canadian-specific modifications. The CSSB has initiated a consultation process to integrate sustainability reporting with financial reporting and address climate resilience reporting.
CSSB Chair Charles-Antoine St-Jean emphasized the importance of embedding sustainability into Canada’s economic framework, while Stan Magidson encouraged stakeholders to contribute their perspectives. This development marks a pivotal moment in Canada’s commitment to a sustainable future, underlining the critical role of standardized, transparent reporting in driving environmental accountability and action.
The release of these proposed standards is significant as it sets the stage for enhanced sustainability practices in Canada, aligning with global efforts towards increased transparency and accountability in reporting on sustainability and climate-related disclosures.
