Welcome back to ESG Insights! We're glad to be back with you after our hiatus to explore more of the critical environmental, social, and governance issues that are impacting business and the world around us. Today's topic: the release of Canada's first sustainability standards, and what they mean for Canadian businesses. The Canadian Sustainability Disclosure Standards (or CSDS for short), released in December 2024, were designed to: - Address growing demand for a consistent, credible sustainability framework in Canada - Drive transparency and accountability within Canada's business ecosystem - Enable high-quality sustainability reporting that investors, suppliers, customers, and other stakeholders are looking for from Canadian companies The CSDS align with the global standards issued by the International Sustainability Standards Board (ISSB) in June 2023, since adopted in dozens of jurisdictions around the world—meaning that Canadian businesses reporting under the CSDS will now more readily meet the expectations of capital markets and decision-makers globally, better attract capital from global markets, and increase their international competitiveness. As Canada moves forward with the implementation of these disclosure standards, businesses, investors, and policymakers alike are looking for clarity on what these new requirements mean and how they align with global frameworks. To help us break this down for our listeners, we are delighted to welcome a very special guest—Bruce Marchand. Bruce is currently Chair of the Canadian Sustainability Standards Board (or the CSSB for short), the independent body established in June 2022 to develop the CSDS. The Board, like its "sister" standard-setting boards in accounting, audit and assurance, and the public sector, serves the public interest by setting standards for sustainability reporting in Canada. Prior to assuming the role of Chair of the CSSB, Bruce served as Chief Risk and Sustainability Officer with Emera Inc.—a company that serves approximately 2.5 million utility customers in Canada, the U.S., and the Caribbean. Bruce is a lawyer by trade, and has practiced in a broad range of corporate, commercial, and finance areas, and has been nationally recognized as a leading practitioner in corporate commercial law. In this episode, we'll break down the key elements of the standards, explore the role of the Canadian Sustainability Standards Board, and discuss the impact these standards will have on corporate transparency, investor confidence, and Canada's transition to a sustainable economy. So, whether you're a business leader, an investor, or just someone passionate about sustainability, this episode is for you. Let's get started! ESG Insights explores the environmental, social and governance issues shaping business and the world around us. In each episode, Nancy Foran, President and Founder of ESG Partners, engages with business leaders and knowledge experts to examine the challenges, risks and opportunities impacting organizational priorities and value creation. To listen to past episodes of ESG Insights, or to learn more about ESG Partners, please visit us at www.esgpartners.ca or follow us on LinkedIn.
