Highlights From CSA's Report On Climate Change-Related Disclosure Project

The Canadian Securities Administrators (CSA) recently released Staff Notice 51-354 – Report on Climate change-related Disclosure Project (Report), providing the results of their review of climate change-related disclosure practices and the adequacy of the existing climate change-related disclosure regime in Canada. In addition, the staff notice sets out the CSA's plan for continued evaluation and development of the Canadian securities law regime governing climate change-related disclosure.

The Report is based on a targeted review of the mandatory and voluntary disclosure made by 78 issuers from the S&P/TSX Composite Index, a voluntary anonymous survey marketed to all TSX-listed issuers, focused consultations with users of disclosure (including institutional investors, investor advocates, experts, academics, credit rating agencies and analysts) and a review of regulatory frameworks governing climate change-related disclosure in the United States, United Kingdom and