The Canadian Sustainability Standards Board has released its sustainability disclosure standards that align with global sustainability disclosure guidelines, while addressing specific Canadian circumstances.
The framework includes general requirements for disclosure of sustainability-related financial information (CSDS 1) and climate-related disclosures (CSDS 2). Ten of Canada’s largest pension plan sponsors and investment managers, representing more than $2.25 trillion in assets under management, have endorsed the standards, including the British Columbia Investment Management Corp., the Caisse de dépôt et placement du Québec, the Canada Pension Plan Investment Board, the Healthcare of Ontario Pension Plan, the Investment Management Corp. of Ontario, the Ontario Municipal Employees Retirement System, the Ontario Teachers’ Pension Plan, the OPSEU Pension Trust, the Public Sector Pension Investment Board and the University Pension Plan.
Read: Canadian sustainability investment standards to launch in December
“As part of our mandates, our objectives are to deliver long-term, risk-adjusted returns that help support retirement and benefit security for millions of Canadians,” said a press release from the University Pension Plan.
“We believe these standards will strengthen the Canadian market’s sustainability disclosure infrastructure and improve the quality of information available to investors, stakeholders and regulators. We call on corporate leaders to adopt CSDS 1 and CSDS 2 to ensure the transparency and comparability needed to make investment decisions that will contribute to a more prosperous future for our clients and beneficiaries.”