Pressure is continuing to grow on Canadian companies to disclose the risks associated with climate change. In late October, 2017, thirty Canadian and international financial institutions and pension funds representing approximately CAD $1.2 trillion in assets under management, issued a joint Declaration of Institutional Investors on Climate-Related Financial Risks (the declaration).
The declaration, supported in principle by 13 organizations, calls on Canadian publicly traded companies to commit to enhanced disclosure on their exposure to climate change risks, and the measures they are taking to manage them. The declaration’s signatories intend to work with these companies to help them mitigate their climate change risks. By signing the declaration, the signatories are advocating for other economic and financial institutions to join forces in order to stimulate sustainable world economic growth, while reducing environmental impact.
The declaration remains open to new signatories who wish to endorse it. The full text of the declaration, as well as a complete list of signatories, is available here.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
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