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ARTICLE · 08 MARCH 2023

Looking Ahead To Climate-related Reporting Requirements In Canada: Part 2

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In our last blog, we discussed the Canadian Securities Administrators' ("CSA") proposed climate-related disclosure requirements (the "Canadian Proposal").

CanadaCorporate/Commercial Law
Sean MacLachlan
Sean MacLachlan
Robert Law (Articling Student)
Robert Law (Articling Student)
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In our last blog, we discussed the Canadian Securities Administrators' ("CSA") proposed climate-related disclosure requirements (the "Canadian Proposal"). This week, we'll discuss international developments that have impacted the Canadian Proposal.

Since the Canadian Proposal was published in October 2021, the U.S. Securities and Exchange Commission ("SEC") proposed climate-related disclosure requirements in annual reports and registration statements and the International Sustainability Standards Board ("ISSB") published an Exposure Draft outlining proposed standards for sustainability- and climate-related disclosure.

"Substantive differences" among proposed requirements

Like the Canadian Proposal, the international proposals align with the Task Force on Climate-Related Financial Disclosures ("TCFD") recommendations, but the CSA noted that "substantive differences exist" between the various proposals. Two key areas where regulators' approaches vary are

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