Canadian securities regulators issue statements on proposed sustainability disclosure standards and ongoing climate consultation

Summary:

The Canadian Securities Administrators (CSA) welcomes the consultation on Canadian Sustainability Disclosure Standards 1 and 2 by the Canadian Sustainability Standards Board (CSSB). The CSA is reviewing the proposed standards and may incorporate them into a CSA rule, which will be subject to public comment. The CSA aims to adopt only necessary provisions to support climate-related disclosures and continues to monitor international developments. The proposed rule is expected to consider the final CSSB standards, issued market fragmentation, and contribute to efficient capital markets. Public comments will be sought on the scope of application and additional time/guidance for reporting issuers.