Canada’s Position in the Global ESG Movement.
Date May 10, 2022
This paper shares insights on the current Canadian ESG landscape and the evolution of ESG disclosure. It explores ESG standards and regulatory developments in Canada, the US, and Europe, and the necessity of making collaborative efforts towards developing a common standard in a complex ESG ecosystem. The paper discusses the three main challenges in the implementation of a successful ESG program: leadership must set the tone, vision, and scope and it must be successfully communicated and permeate throughout the organization; data challenges of quality, availability, usability, comparability, and workflow integration must be overcome; and compliance and risk management practices must evolve and adjust with the implementation of these such significant change programs. The paper provides some expert opinion on what the future holds for ESG and discusses what Canada needs to focus on next.
Co-authors: Donna Bales, Founder of the Canadian Regulatory Technology Association and Eleanor Morrison, PhD and Strategic Advisor of the Canadian Regulatory Technology Association