Yesterday the Canadian Securities Administrators released a new guidance note on environmental disclosure for Canadian companies.
The Notice provides guidance on compliance with disclosure rules in the following areas:
- Environmental risks and related matters;
- Environmental risk oversight and management;
- Forward-looking information requirements as they relate to environmental goals and targets; and
- Impact of adoption of International Financial Reporting Standards (IFRS) on disclosure of environmental liabilities.
According to the CSA spokesperson Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec), “Greater transparency is needed regarding the nature and extent of environmental risks and other environmental matters”. Further, that “This guidance should greatly assist issuers in complying with their disclosure obligations, which would ultimately provide investors with much more complete information on environmental matters.”
The full Guidance is available on all the Provincial Securities Regulators websites. Here is a direct link to CSA Staff Notice 51-333 Environmental Reporting Guidance on the BC securities website.
