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The Canadian Sustainability Standards Board (CSSB) was created to develop Canadian sustainability disclosure standards that take the ISSB standards into consideration. On March 13, 2024, the CSSB released its first draft standards for comment which, if approved, would form part of the Canadian Sustainability Disclosure Standards (CSDS).
Jun 26, 2023 · Proposed CSDS 1 includes definitions and information required to prepare a complete set of sustainability disclosures and a standard for sustainability-related disclosures. Accordingly, the CSSB proposes that CSDS 1 and CSDS 2, once finalized, become effective on the same date.
The CSDS are based on the IFRS Sustainability Standards (refer above) with amendments considered appropriate for the Canadian context: CSDS 1: General Requirements for Disclosure of Sustainability-related Financial Information. CSDS 2: Climate-related Disclosures. Also issued for comment was the Criteria for Modification Consultation Paper.
Mar 19, 2024 · Notably, the final rules released by the US Securities and Exchange Commission (SEC) on March 6, 2024 do not mandate the disclosure of indirect greenhouse gas emissions attributable to a company’s value chain (Scope 3 emissions). Impact of Future Disclosure. The CSSB intends to finalize its proposed CSDS 1 and CSDS 2 by the end of 2024.
Mar 21, 2024 · Moreover, CSDS 2 would require mandatory scenario analysis gauging entities’ resilience to climate change. By contrast, the recently published final SEC climate-related disclosure rules (please refer to our in-depth analysis here) opted not to compel Scope 3 GHG emission reporting. Companies will instead disclose climate-related risks that ...
The Canadian Sustainability Standards Board (CSSB) released proposals on its first two Canadian Sustainability Disclosure Standards (CSDS). The release includes three key documents: • Exposure Draft CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information; Exposure Draft CSDS 2, Climate-related Disclosures; and.
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Mar 13, 2024 · Committed to the global baseline the ISSB established, the CSSB’s proposed CSDS 1 and CSDS 2 align with IFRS S1 and S2 – but with Canadian-specific modifications suggested. Also available for public comment is a paper discussing how the CSSB proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada.
