The past year has been a challenging one for companies on the ESG front. Overlapping environmental, social, and political crises — from flooding and wildfires to the first war in Europe in 80 years — have made the jobs of leaders that much harder. This article takes a look at 10 key stories that dominated the year, including how a handful of elections changed the trajectory of sustainability, why ESG investing became a hot-button issue, and the rising importance of increased transparency. It also suggests some emerging issues leaders should be on the lookout for in 2023.
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On December 8, 2022, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) jointly published Staff Notice 23-329: Short Selling in Canada (Short Selling Notice), which reviews the current regulatory requirements and initiatives with respect to short selling and seeks public feedback on areas for regulatory consideration. The comment period relating to the Short Selling Notice ends on March 8, 2023.
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Sustainability disclosure systems based on the emerging climate reporting standard under development by the International Sustainability Standards Board (ISSB) of the IFRS Foundation may soon require companies to provide additional transparency on impacts and risks related to natural ecosystems and the just transition, according to ISSB Chair Emmanuel Faber.
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MSCI’s ESG and Climate Trends to Watch for 2023 discusses the key topics investors face, from climate change, the environment and the road to net-zero, through to regulatory requirements, supply chain innovations, biodiversity and new technologies, as well as issues affecting everyday life.
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A new report says Canadian companies have made slow, incremental progress on gender diversity when it comes to corporate governance and are only now beginning to add a substantial number of directors from diverse backgrounds.
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