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ARTICLE · 13 AUGUST 2019

CSA Provides Guidance Aimed At Improving Disclosure Of Material Climate Change-Related Risks

The Staff Notice does not modify or create legal obligations for reporting issuers.

CanadaCorporate/Commercial Law

The Canadian Securities Administrators (CSA) published Staff Notice 51-358 Reporting of Climate Change-related Risks (the "Staff Notice") on August 1, 2019. The purpose of the Staff Notice is to provide guidance to boards of directors and management of reporting issuers as to how to properly identify and assess material climate change-related risks so that they may improve their disclosure of those risks. The Staff Notice does not modify or create legal obligations for reporting issuers. Rather, it reinforces the existing guidance in CSA Staff Notice 51-333 Environmental Reporting Guidance. The Staff Notice is intended solely as an educational tool for issuers to support their compliance with the requirement to disclosure material climate change-related risks.

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