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ARTICLE · 28 MARCH 2024

CSSB Releases Its Draft Standards: One Step Closer To Mandatory Sustainability Reporting In Canada

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On March 13, 2024, the Canadian Sustainability Standards Board (CSSB) published two exposure drafts for comment. CSDS 1 contains general requirements regarding...

CanadaCorporate/Commercial Law
Marie-Christine Valois
Marie-Christine Valois
Dyna Zekaoui
Dyna Zekaoui
Sabrina Spencer
Sabrina Spencer
Stephen Erlichman
Stephen Erlichman
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On March 13, 2024, the Canadian Sustainability Standards Board (CSSB) published two exposure drafts for comment. CSDS 1 contains general requirements regarding sustainability-related financial information and CSDS 2 contains climate-related disclosure requirements.

For the moment, these drafts are almost identical to the standards issued by the International Sustainability Standard Board (ISSB) in June 2023, with the exception of certain additional relief to account for the Canadian context.

Once finalized, CSDS 1 and CSDS 2 will only be voluntary standards in Canada. That said, they will be an influential reference point for Canadian regulators deciding mandatory rules on sustainability-related disclosure.

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