Canada Climate Law Initiative

We congratulate Helen Alexandra Joan Tooze, PhD on the completion and defence of her PhD from Peter A. Allard School of Law at UBC. We are pleased to welcome her to the team as a Senior Policy Researcher through a postdoctoral research fellowship with the The University of British Columbia. She has authored three climate risk governance guides for directors of Canadian credit unions, major mining firms, and the real estate sector, and will be leading our policy research. https://lnkd.in/gFJAKPr2

Is it possible to allow, or encourage, institutional investors to engage in systemic risk mitigation interventions with the prevailing definition of fiduciary duty? Find answer in this report by Columbia Center on Sustainable Investment: https://lnkd.in/g24aCDiT

Read our recommendations to the Competition Bureau Canada on the Competition Act’s new greenwashing provisions: https://lnkd.in/gHwK6rQi We believe clear guidelines will help organizations understand their obligations and ensure their environmental claims comply with the law.

By applying ISSB Standards voluntarily—in the absence of regulatory requirements—companies can provide decision-useful, globally comparable sustainability-related disclosures to investors. And, increasingly, investors around the world are calling on companies to do so. While meeting investor demand will be a key driver for many companies choosing to apply ISSB Standards voluntarily, as increasing numbers of jurisdictions take steps to introduce sustainability disclosure requirements—including through widespread use of ISSB Standards—the Standards also serve as a passport for companies to meet requirements globally. To support companies, the IFRS Foundation has published "Voluntarily applying ISSB Standards—A guide for preparers". The guide aims to support companies as they start to apply ISSB Standards voluntarily as well as helping them communicate their progress to investors: https://lnkd.in/g9vzWSx3

« Pour attirer les capitaux étrangers indispensables à notre transition climatique, le Canada doit renforcer les normes de divulgation climatique en alignant ses lignes directrices sur les normes mondiales de l'ISSB, car cela garantirait que les investisseurs aient la clarté et la confiance nécessaires pour soutenir les entreprises dans leurs plans de transition climatique vers la carboneutralité. » - Eric St-Pierre (Directeur exécutif, Fondation Familiale Trottier / Trottier Family Foundation) https://lnkd.in/gVn-sidQ IFRS Foundation, Canadian Securities Administrators (CSA) - Autorités canadiennes en valeurs mobilières (ACVM), Canadian Sustainability Standards Board (CSSB), Autorité des marchés financiers (Québec), Flavie Desgagné-Éthier

Today, Dr. Janis Sarra (Professor of Law Emertia, Peter A. Allard School of Law at UBC) appeared as part of a panel of witnesses to the House of Commons' Standing Committee on Environment and Sustainable Development in its study of the environment and climate impacts related to the Canadian financial system. Watch her testimony: https://lnkd.in/gKQ5Epd9 Adam Scott, Karine Peloffy, Akshay Dubey, Jasmin Guénette, and others also took part in the meeting with the House of Commons of Canada Chambre des communes du Canada.

Climate change is a material, systemic and financial risk to corporations and their shareholders. This resource aims to help directors make informed decisions and understand their legal duties regarding how to manage that risk and understand the broader climate-related regulatory landscape in which they operate. Directors can dive into information on over 30 jurisdictions which is relevant to their board duties and responsibilities, including: -Government and regulatory approaches to climate change -Sustainability and climate-related disclosure requirements -Liability risks for companies and directors -Practical tips for directors  https://lnkd.in/g7cz69Ty Climate Governance Initiative, Commonwealth Climate and Law Initiative (CCLI)

"By adopting mandatory climate disclosure, the Canadian Securities Administrators (CSA) - Autorités canadiennes en valeurs mobilières (ACVM) will enable issuers and investors to more accurately assess and understand the risks and opportunities posed by climate change. This decisive action is essential to ensure that Canadian capital markets stay globally competitive and aligned with the prevailing trends in investor protection." -Ed Ma, K.C. (Thinkific) https://lnkd.in/gWJp4EGY Canadian Sustainability Standards Board (CSSB), Alberta Securities Commission, BC Securities Commission, International Sustainability Standards Board (ISSB), IFRS Foundation

🌿 TNFD publishes draft guidance on nature transition planning at COP16 Today, we published a discussion paper that sets out draft guidance on nature transition planning for corporates and financial institutions developing and disclosing a transition plan in line with the TNFD recommended disclosures.   🔗 Read the paper - https://lnkd.in/gqj7rGiB   🔗 Read the press release - https://lnkd.in/gPHbjj-c The mission of the Kunming-Montreal Global Biodiversity Framework (GBF) is to halt and reverse biodiversity loss by 2030, towards a 2050 vision of a world living in harmony with nature. Delivering the transition implied by this international agreement requires significant changes to business practices across all sectors. As such, a nature transition plan – as defined in the discussion paper – lays out an organisation’s goals, targets, actions, accountability mechanisms and intended resources to respond and contribute to the transition implied by the GBF. Facilitating an integrated approach to transition planning and disclosure, we have built on current market practice for climate transition planning, in particular the work of the Glasgow Financial Alliance for Net Zero (GFANZ) and on the recommendations of the Transition Plan Taskforce (TPT) for climate transition plan disclosure.   What’s next ❓ We welcome feedback on the approach outlined in this discussion paper by 1 February 2025 from corporates, financial institutions and other interested stakeholders. Based on the feedback received through the consultation, and insights gained through potential pilot testing, the Taskforce will develop final TNFD guidance on nature transition plans that will be published in 2025.

Last chance to register for our webinar "Cultivating effective climate governance: What small farm corporations in Canada need to know" with Amr Addas, Margot Hurlbert, and Hitoishi Chakma. Join us: https://lnkd.in/gGDvNsXx