September 15, 2020

Top Stories

Sustainability Standard-setters Pledge to Work Together on Common Goals

A group of international sustainability accounting standard-setters -- including the Carbon Disclosure Project, the Climate Disclosure Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council and the Sustainability Accounting Standards Board -- released a shared vision Friday of the elements needed for more comprehensive corporate reporting and a joint statement of intent to drive toward such a goal, as confusion over the sometimes conflicting sets of standards threatens to impede progress.

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A Primer for Environmental and Social Disclosure

TMX Group and Chartered Professional Accountants of Canada released an updated version of their 2014 A Primer for Environmental & Social Disclosure (Primer). The purpose of this update is to specifically help listed issuers get started with, or enhance their ESG disclosure by first considering the financially material environmental and social aspects of their businesses.

This edition provides practical steps to help issuers think about ESG factors that have a material impact on their company, industry and investors. Along with a general overview of ESG factors and the increasing importance of these issues, the Primer answers questions about required disclosure on environmental and social issues, provides tools to help assess the materiality of such factors, and includes resources that are available to assist with disclosure.

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CIRI is Taking the 2020 Annual Conference Virtual

CIRI's 2020 Annual Conference is going virtual and will include all of the elements that make this a hallmark event for Canadian IROs year in and year out. CIRI’s Annual Conference, which was postponed due to the COVID-19 pandemic, will now be held virtually over four afternoons – November 23, 24, 30 and December 1.

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Accounting for a Sustainable World: Why Quality Disclosure Is Required

The unprecedented challenges posed by COVID-19 have reminded us that we are an interconnected global community. While this crisis rightly has dominated our attention, we must not lose sight of progress on the broader aims of the Sustainable Development Goals and the Paris Climate Agreement. Like the pandemic, our response must transcend national boundaries, engage the public and private sectors -- and the pace has to quicken.

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CIRI Comments on the Consultation Paper on the Ontario Securities Act

CIRI submitted comments to the Capital Markets Modernization Taskforce on their Consultation Paper on the Ontario Securities Act. This Consultation Paper aims to modernize the Act to foster vibrant capital markets that are driven by innovation, competition and diversity.

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Canadian Securities Administrators' Comments on the Ontario Capital Markets Modernization Taskforce Report

The securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Manitoba, Québec, Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador, Nunavut, Northwest Territories and Yukon (CSA members, or we), today published an assessment of the Ontario Capital Markets Modernization Taskforce Consultation Report ("Taskforce Report") issued July 9, 2020.

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Canadian Securities Regulators Seek New Members for Mining Technical Advisory and Monitoring Committee

The Canadian Securities Administrators (CSA) is inviting applications for new members to join the Mining Technical Advisory and Monitoring Committee (MTAMC). The MTAMC is a forum for communication between the CSA and the mining industry, and advises the CSA on a variety of industry and professional developments related to securities regulatory issues.

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The Nominee-Director Dilemma

The COVID-19 pandemic forces businesses to make significant and, at times, difficult decisions. In the current context, businesses may need to incur additional indebtedness or seek further equity investments, which can create opportunities. Looking at the decision-making process of corporations through the lenses of an institutional or private equity investor, this bulletin serves as a refresher with respect to the duties, responsibilities and liabilities of nominee directors and investors, and highlights certain key considerations for the negotiation of governance rights given that in connection with investments of a certain size, it is common for investors to be represented on the board of directors of investee corporations.

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