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.
Watch the Launch of the Final Report of the Expert Panel on Sustainable Finance
Op-Ed by Panel Members
Interviews with Panel Members
Additional Media Coverage