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CSA Staff Notice 51-358 Reporting of Climate Change-related Risks

The Canadian Securities Administration (“CSA”) published CSA Staff Notice 51-358 Reporting of Climate Change-related Risks which provides guidance to public companies on identifying and improving disclosure about material climate change-related risks. It is important to note that this notice does not create any new legal requirements, but it reinforces and expands upon the guidance provided in CSA Staff Notice 51-333 Environmental Reporting Guidance and should be read in conjunction with that notice.

This notice addresses the following issues:

·       Why this guidance?

·       What does this mean for boards and management?

·       What are the roles and responsibilities of the board and management?

·       Why is materiality important?

·       What are potential climate change-related risks and why is their disclosure important?

·       Voluntary disclosure

·       Forward-looking information

You can read the complete notice HERE.

You can find further discussion in the following summaries, which may also be of assistance in understanding disclosure about material climate change-related risks:

Canadian Securities Regulators Provide Guidance on Climate Disclosure - Davies Ward Phillips & Vineberg LLP

New public company guidance on material climate change-related risk disclosure – Torys LLP

Suzanne FergusonComment