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ARTICLE · 21 MARCH 2024

CSA Publishes Updated Guidance On ESG-Related Investment Fund Disclosure

Osler, Hoskin & Harcourt LLP
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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 Revised Notice).

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Vanessa Hansford
Vanessa Hansford
Andrew Aziz
Andrew Aziz
Lorraine Lynds
Lorraine Lynds
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Shawn Cymbalisty
Jasveen Singh
Jasveen Singh
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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 Revised Notice). The Notice updates and replaces Staff Notice 81-334 which was issued on January 19, 2022 (the 2022 Notice).

While the Notice does not change the guidance that was in the 2022 Notice, it does expand on disclosure and sales communication practices of investment funds as they relate to environmental, social and governance (ESG) matters and, in particular, as it relates to different levels of disclosure expectations for funds whose investment objectives do not reference ESG factors but use ESG strategies.

Fund classification – ESG-related funds

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