Time to Act: Response to Questions Posed by the Expert Panel on Sustainable Finance on Fiduciary Obligation and Effective Climate-Related Financial Disclosures

Authors

Cynthia Williams, Osgoode Hall Law School of York UniversityFollow
Janis P. Sarra, Allard School of Law at the University of British Columbia

Document Type

Response or Comment

Publication Date

1-26-2019

Keywords

Climate change; governance; ESG; fiduciary; disclosure; sustainable finance

Abstract

The Expert Panel on Sustainable Finance has been commissioned by the Canadian Government to determine how best to generate sustainable finance, a significant challenge given the carbon intensity of Canada’s economy. The Expert Panel has defined sustainable finance as capital flows, risk management activities and financial processes that assimilate environmental and social factors as a means of promoting sustainable economic growth and the long-term stability of the financial system. While there are numerous strategies to be deployed to move Canada to a financially sustainable future, this report addresses two critically important issues: fiduciary obligation of corporate- and pension-fiduciaries, and national action on environmental, social and governance (“ESG”) financial disclosure, including climate-related financial risk disclosure.

Repository Citation

Williams, Cynthia and Sarra, Janis P., "Time to Act: Response to Questions Posed by the Expert Panel on Sustainable Finance on Fiduciary Obligation and Effective Climate-Related Financial Disclosures" (2019). Commissioned Reports, Studies and Public Policy Documents. Paper 208.
https://digitalcommons.osgoode.yorku.ca/reports/208