The economic downturn, combined with the politicization of green investing, is turning up the heat on ESG-focused investment funds. What it means for companies and investors.
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Among the most fascinating developments in corporate practice over the past decade has been the incremental and reciprocal convergence of private equity and shareholder activism.
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Fasken’s 2023 ESG Disclosure Study will assist companies and members of their boards and senior management teams by providing key data points on how large Canadian companies are tackling board oversight, management and disclosure of ESG-related matters relevant to today’s market.
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Here are the challenges businesses should be ready for this year and what actions CFOs should be taking.
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Bill S-211, An Act to enact the Fighting Against Forced Labour and Child Labour in Supply Chains Act and to amend the Customs Tariff (the Act), is awaiting adoption of committee report and final reading in the House of Commons. Once passed, the Act will require many corporations with connections to Canada, and federal government institutions, to report on steps taken to prevent and reduce the risk that forced labour or child labour is being used in their supply chains. If the Act is passed in 2023, the first report will be due in May 2024. This will bring Canadian law generally into line with Australia and the U.K.
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The Canadian Securities Administrators (CSA) released its CSA Multilateral Staff Notice 58-314, Review of Disclosure Regarding Women on Boards and in Executive Officer Positions – Year 8 Report. The CSA reports a modest uptick, as compared to its prior year’s report, in the overall percentage of women on boards and in executive positions. However, in light of the ever-increasing focus on environmental, social and governance (ESG) factors, there appears to be an opportunity for more significant growth for issuers that actively plan to address this particular factor, as well the potential for practical consequences for an issuer that fails to adequately address any lack of gender diversity on its board or within its management.
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Disclosure rules to reflect connection between climate and nature, as finance sector commits to mobilise capital at COP15.
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