Rotman School of Management

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

Tuesday, November 28, 2017 9:00 a.m. to 12:00pm

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 introduced 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.

Is the Voluntary Reporting Regime for Environmental Performance Working: Canadian and Global Evidence?

  • Alexander Dyck, Director, Capital Markets Institute and Manulife Financial Chair in Financial Services, Rotman School of Management

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  • Gordon D. Richardson, KPMG Professor of Accounting, Rotman School of Management

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Insights & Recommendations from the FSB Task Force on Climate-related Disclosure

  • Stephanie Leaist, Managing Director, Head of Sustainable Investing CPPIB & FSB Task Force on Climate-related Financial Disclosure view presentation (link to Leaist.pdf)

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Early Observations from the CSA Climate Change Disclosure Review Project

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