Canadian sustainability disclosure standards
Consistent, comparable sustainability and climate-related disclosures help investors and investment managers make better-informed decisions.
Submission – Canadian Sustainability Standards Board (CSSB) Proposed Sustainability Standards CSDS 1 & 2
Recipients
Lisa French
Vice-President, Sustainability Standards
Canadian Sustainability Standards Board (CSSB)
Industry segments this resource supports
- Assets management
Summary
Our submission expresses support for the CSSB’s proposed Canadian Sustainability Disclosure Standards (CSDS 1 and CSDS 2), which closely align with the International Sustainability Standards Board’s IFRS S1 and IFRS S2. The submission highlights the need for high quality, consistent sustainability and climate related information to support investment decision making, corporate engagement, proxy voting, and regulatory ESG disclosure expectations. It also encourages broader sustainability reporting beyond climate related disclosures, proportional implementation timelines, safe-harbour provisions, and careful integration with financial reporting requirements.
Why this matters: Consistent, comparable sustainability and climate-related disclosures help investors and investment managers make better-informed decisions.
Key takeaways
- We support the CSSB’s proposed disclosure standards and their alignment with international ISSB standards.
- Investment managers rely on sustainability and climate-related information to assess risks, opportunities, and alignment with investment objectives.
- Current issuer disclosures are incomplete, inconsistent, and often voluntary, creating challenges for investors and managers.
- We encourage the CSA to adopt broader sustainability disclosure requirements, not only climate-related elements.
- Proportionality is recommended so smaller issuers have longer timelines to comply.
- Safe-harbour provisions for climate-scenario analysis are considered essential to encourage transparent forward-looking disclosures.
