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ARTICLE · 07 NOVEMBER 2024

Towards A Shared Understanding: Canada's New Sustainable Investment Guidelines & Mandated Climate Disclosures

McMillan LLP
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On October 9, 2024, the federal government announced progress on two recent key commitments: development of voluntary "Made-in-Canada sustainable investment guidelines" (the "Canadian Taxonomy").

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Sharon G.K. Singh
Sharon G.K. Singh
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Radha Curpen
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On October 9, 2024, the federal government announced progress on two recent key commitments: development of voluntary "Made-in-Canada sustainable investment guidelines" (the "Canadian Taxonomy") and implementation of mandatory climate-related financial disclosures for certain federally incorporated entities. Both initiatives were foreshadowed in the federal government's previous policy platforms, including in the 2023 Fall Economic Statement and Budget 2024.

A Canadian investment taxonomy aims to establish a credible classification system for investors, lenders and the capital markets to use when making green and transition investments.

Mandated climate-related disclosures are not new in Canada. Other jurisdictions, local and international organizations, and a number of regulators have extensively considered the design and scope of similar types of mandatory disclosures and investment guidelines. These serve to inform the current federal initiatives and their

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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