ESG
On July 15, 2022, the Canadian Standards Association (CSA) issued a report presenting the results of its work with the Climate Bonds Initiative (CBI) to examine current global best practices in sustainable finance and make recommendations for natural resource-based economies such as Canada.
By way of background, the Canadian Expert Panel on Sustainable Finance recommended a market-based approach to aid in the transition to net-zero greenhouse gas (GHG) emissions economy by 2050. This led to the creation of CSA Group Testing & Certification Inc. whose mandate was to develop a Canadian transition taxonomy document and recommendations. While this goal was not met, the CSA Group and the committee are now working with the Sustainable Finance Action Council (SFAC) and government stakeholders.
Over the last several years the IIAC has been communicating with the chair of the CSA taxonomy working group. The IIAC and its ESG committee will review and comment on the SFAC’s draft taxonomy recommendations, expected to be released on September 23, 2022.
The IIAC is also hosting a webinar on Green and Transition Bond Taxonomy Developments on Thursday, September 22, 2022, at 3:00 pm ET. Click here to register.