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Should Issuers Be Required to Improve their Climate-related Financial Disclosures?

Tuesday, November 28, 2017

9:00 a.m. to 12 noon (registration opens at 8:30am)

Rotman School of Management
Desautels Hall (2nd floor)
105 St. George Street, Toronto, Ontario

Registration
$49.95 plus h.s.t. per person (Refreshments will be served)
Registration required. REGISTER HERE Please register before noon November 27, 2017.

 

Investor concern regarding the risks and financial impacts associated with climate change has motivated market monitors and regulators to consider requiring issuers to improve and mainstream the quality of their climate-related financial disclosures.  A Global Task Force of the Financial Stability Board, in an influential report issued in June of 2017, called on issuers to include climate-related financial disclosures in their annual financial filings.  The report recommends issuers provide specific information so investors can assess the potential financial implications of a changing climate for their firm.  In March 2017, the Canadian Securities Administrators (CSA) launched a climate disclosure review project. This forum will introduce evidence on the state of environmental disclosures by Canadian issuers, the rationale behind demands for improved disclosure, and concerns with mainstreaming climate-related financial disclosures.  Speakers will include academics, investors, issuers, lawyers, and regulators.

Speakers: 
Bindu Dhaliwal           BMO Financial Group
Dan Hanson               Jarislowsky, Fraser
Stephanie Leaist        CPPIB & FSB Task Force on Climate-related Financial Disclosure
Jo-Anne Matear         Corporate Finance, Ontario Securities Commission

Gordon Richardson    KPMG Professor of Accounting, Rotman School of Management     

Alexander Dyck          Capital Markets Institute

Additional Resources:
Financial Stability Board (FSB) Task Force on Climate-related Disclosure
Canadian Securities Administrators (CSA) Climate Change Disclosure Review Project

Background:
Summary: Environmental Performance of Canadian Firms, Dyck and Roth
Backgrounder: Environmental Performance of Canadian Firms, Dyck and Roth
Do Institutional Investors Drive Corporate Social Responsibility? International Evidence, Dyck, Lins, Roth and Wagner
Revisiting the Relation between Environmental Performance and Environmental Disclosure, Clarkson, P., Y. Li, G. Richardson and F. Vasvari
The Relevance of Environmental Disclosures: Are Such Disclosures Incrementally Informative, Clarkson, P., Y. Li, G. Richardson and X. Fang
The Valuation Relevance of Greenhouse Gas Emissions under the European Union Carbon Emissions Trading Scheme, Clarkson, P., Y. Li, M. Pinnuck and G. Richardson, 

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