Canadian Companies Must Do Better on Climate Disclosure

A recent article in the Globe and Mail pointed to the unevenness of Canadian corporate reporting on sustainability performance and climate risk. While some firms use the indicators of the Global Reporting Initiative to guide their reporting, others use those of the Sustainability Accounting Standards Board. However, the authors suggest that a third framework, that of the Task Force on Climate Financial Disclosures, or TCFD, which is favoured by a growing number of institutional investors. “More so than some other standards,” write the authors, “the TCFD requires forward-looking disclosure about climate plans and future impact.”