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ARTICLE · 11 APRIL 2024

Canadian Securities Administrators Release Updated Guidelines On ESG-related Investment Fund Disclosure

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On March 7, 2024, the Canadian Securities Administrators ("CSA") released Staff Notice 81-334 (Revised) – ESG-Related Investment Fund Disclosure (the "Notice").

CanadaFinance and Banking
Simon Igelman
Simon Igelman
Allison Choi
Allison Choi
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On March 7, 2024, the Canadian Securities Administrators ("CSA") released Staff Notice 81-334 (Revised) – ESG-Related Investment Fund Disclosure (the "Notice"). The Notice updates and replaces the previously issued Staff Notice 81-334, which the CSA had released on January 19, 2022. The objective of the Notice, according the CSA, is "to bring greater clarity and consistency to ESG-related fund disclosure and sales communications to enable investors to make more informed investment decisions."

As part of the Notice, the CSA classifies funds into four (4) categories to which the Notice applies. The following classification is broadly based on whether a fund considers ESG factors as part of its investment process and the extent to which such factors are considered:

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