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ARTICLE · 06 OCTOBER 2023

Marathon Or Sprint? The Race To Decarbonize Includes Many Early Hurdles And Mazes

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The speed of change in environmental, social and corporate governance (ESG) risk management, reporting and marketing continues at varying paces. The road ahead involves complex regulations...

GlobalEnvironment
Maya Douglas
Maya Douglas
Conor Chell
Conor Chell
Laura Roberts
Laura Roberts
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The speed of change in environmental, social and corporate governance (ESG) risk management, reporting and marketing continues at varying paces. The road ahead involves complex regulations, more stringent rules and an ever-expanding encyclopedia of risks and challenges posed by climate litigation.

Different speeds in regulation uncover front runners and new risks

While the International Sustainability Standards Board (ISSB) unveiled standards IFRS S1 and S2 in July 2023, Canada may take another year to regulate ESG and climate-related risk reporting. In contrast, the United States is progressing at a noticeably quicker pace. The U.S. Securities and Exchange Commission (SEC) plans to issue its Climate Related Disclosure rule in October, and in California, Senate Bill (SB) 253, the Climate Corporate Data Accountability Act recently passed and the Climate-Related Financial Risk Act (SB 261) is expected to follow soon. Some experts suggest that these sub-national

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