Securities Regulators Anticipate Greater Requirements On Climate Change Disclosure

On April 5, 2018, the Canadian Securities Administrators (CSA) published CSA Staff Notice 51-354 Report on Climate change-related Disclosure Project, which reports the findings of their project to review disclosure by reporting issuers of risks and financial impacts associated with climate change.

The CSA report provides insight on CSA's plans for future work in this area, most notably the consideration of new disclosure requirements regarding corporate governance in relation to business risks, including climate change-related risks, and risk oversight and management.

Other initiatives described in the report include:

• developing guidance and educational initiatives for reporting issuers across a wide range of industries with respect to the business risks and potential financial impacts of climate change;