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Expert Panel on Sustainable Finance

The Government of Canada in April 2018 appointed Dean Tiff Macklem to chair the Expert Panel on Sustainable Finance. The four person Panel — Dean Macklem, Andy Chisholm, Kim Thomassin and Barbara Zvan — released its Final Report in June 2019.

What is Sustainable Finance?

In its interim report, the Panel defined ‘sustainable finance’ as: Capital flows (as reflected in lending and investment), risk management activities (such as insurance and risk assessment), and financial processes (including disclosures, valuations, and oversight) that assimilate environmental and social factors as a means of promoting sustainable economic growth and the longterm stability of the financial system. The conditions for sustainable economic growth are to meet the needs of the present without compromising the future.

Panel member Barbara Zvan, in her interview with Pivot Magazine, described sustainable finance as: "Trying to get mainstream finance to help us with the transition to a low-carbon economy.”

Expert Panel Members, Final and Interim Reports

The Expert Panel on Sustainable Finance presented its final report on June 2019. The panel consulted with members of the business community about the opportunities associated with sustainable finance. It also explored the opportunities and challenges for companies facing voluntary standards for corporate disclosure of the financial risks associated with climate change. The panel members were:

  • Tiff Macklem, Dean, Rotman School of Management and member of the Board of Directors of Scotiabank
  • Andy Chisholm, member of the Board of Directors of the Royal Bank of Canada
  • Kim Thomassin, Executive Vice-President, Legal Affairs and Secretariat, Caisse de dépôt et placement du Québec
  • Barbara Zvan, Chief Risk and Strategy Officer, Ontario Teachers’ Pension Plan and Member of the Board of Directors of Cadillac-Fairview.

Read More about the Expert Panel including its final and interim reports

Watch the Launch of the Final Report of the Expert Panel on Sustainable Finance

Op-Ed by Panel Members

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Canada must accelerate innovation, transparency and market access to win capital back

Dean Tiff Macklem, Andy Chisholm and Barbara Zvan, The Globe & Mail, June 17, 2019

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It’s time for sustainable finance to go mainstream

Kim Thomassin and Barbara Zvan
September 5, 2019
Benefits Canada

Interviews with Panel Members

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How to achieve Sustainable Finance

Interview with Dean Tiff Macklem, Money FM 89.3, Singapore, April 30, 2019

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Road to sustainable finance goals a long game, not a sprint

Interview with Dean Tiff Macklem, BNN Bloomberg, June 14, 2019

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Webinar: Sustainable Finance Expert Panel Report

With Andy Chisholm, Smart Prosperity Institute, June 20, 2019

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Podcast: How to Finance a Green Canadian Economy?

From ARC Energy Research Institute with Barbara Zvan, June 21, 2019

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What is sustainable finance—and what does it mean for your company?

Pivot Magazine interview with Barbara Zvan, July 4, 2019

photo of Andy Chisholm and Barbara Zvan on CBC Radio

Sustainable Finance

CBC Radio The House Interview with Andy Chisholm and Barbara Zvan
July 5, 2019 (35:30 into the clip)

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Global update on the future of sustainable finance

Responsible Investor Webinar with Barbara Zvan
September 5, 2019


Podcast: Pipelines and Turbines

Barbara Zvan discussed the role of finance in the low carbon transition and the sustainable finance panel.
February 16, 2020

Additional Media Coverage

Green Central Planning

National Post, June 25, 2019

We must empower sustainability

The Winnipeg Free Press, June 26, 2019

A rapid energy transition? No way

National Post, June 29, 2019

OTPP and NYSCRF on Climate Change

Pension Pulse. July 2, 2019

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