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ARTICLE · 17 NOVEMBER 2021

Climate Change Disclosure Coming Soon For Canadian Reporting Issuers

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This marks a significant step forward in ensuring investors have access to consistent and comparable climate-related disclosure.

CanadaCorporate/Commercial Law
Tyson Dyck
Tyson Dyck
Rima Ramchandani
Rima Ramchandani
Stephanie Stimpson
Stephanie Stimpson
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On October 18, 2021, the Canadian Securities Administrators (CSA) proposed National Instrument 51-107 Disclosure of Climate-related Matters and its companion policy. As proposed, the rules would come into force on December 31, 2022 requiring reporting issuers, subject to limited exceptions and over a phased-in period, to disclose climate-related information in line with certain recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). This marks a significant step forward in ensuring investors have access to consistent and comparable climate-related disclosure.

What you need to know

  • The proposed rules would be phased-in over a one-year period for non-venture issuers and over a three-year period for venture issuers. For reporting issuers with a December 31 year-end, disclosures would be required in annual filings due in 2024 for non-venture issuers and in 2026 for venture issuers.

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