Investors expect a company’s financial statements, management discussion and analysis (MD&A) and sustainability-related disclosures to provide a coherent, connected and integrated picture. They are asking whether accounting standards produce financial statements that fairly reflect climate - and other sustainability-related risks and opportunities discussed in the front part of the annual report.
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On May 3, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new rules governing the disclosure requirements regarding repurchases of an issuer’s equity securities, commonly referred to as share "buyback" or repurchase programs.
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The proportion of public companies providing disclosures on Scope 3 emissions – indirect emissions from across the value chain, typically accounting for the vast majority of most companies’ climate footprint – has increased to more than a third, according to a new study by investment data and research provider MSCI, which also found a significant increase in corporate decarbonization commitments.
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Members of the Canadian Securities Administrators (CSA) are announcing exemptions from certain filing requirements to address the brief period when the System of Electronic Document Analysis and Retrieval (SEDAR) will be switched to a new centralized system, SEDAR+.
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The new centralized national filing system, to be known as the "System for Electronic Data Analysis and Retrieval +” (SEDAR+), is set to launch on June 13, 2023, with potential accommodations to be made for certain foreign filers.
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For good and important reasons, Canadians are rethinking
some of the most fundamental aspects of business and the
economy. Environmental concerns have moved front and
centre. Every alert and competitive company now pays close
attention to the diversity of their workforce and the
inclusiveness of recruitment and retention activities. Good
governance attracts sustained commitment from larger corporations. Social responsibility is integral to business plans, not a small adjunct to the main enterprise.
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The Canadian Securities Administrators (CSA) are currently seeking public comment on proposed amendments and changes to the disclosure requirements for reporting issuers not listed on the TSX Venture Exchange or the Canadian Securities Exchange. The Proposed Amendments relate to disclosure regarding board and executive officer diversity, board renewal and director nomination processes.
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Climate Engagement Canada will be benchmarking Focus List Companies’ commitments and performance against its engagement framework, as well as those of industry peers.
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Amendments to the TSX Company Manual - now in effect - bring welcome clarity and greater predictability to the factors considered by the Toronto Stock Exchange (the TSX) when determining whether a prospectus offering is truly a bona fide public offering.
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