Regulatory Alerts2021-10-18
Draft Regulation 51-107 respecting Disclosure of Climate-related Matters
The Canadian Securities Administrators (CSA) have published Draft Regulation 51-107 to mandate climate-related disclosures for all reporting issuers, excluding investment funds. The proposed rule requires issuers to align their reporting with the Task Force on Climate-related Financial Disclosures (TCFD) framework across governance, strategy, risk management, and metrics, including mandatory greenhouse gas emissions reporting or explanations for non-disclosure. To mitigate regulatory burden, the draft explicitly exempts scenario analysis and implements a phased compliance timeline, requiring non-venture issuers to adopt the standards within one year and venture issuers within three years of the regulation's effective date.
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