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Climate change disclosure and decision making: Resources

Capital providers are seeking more information on material financial risks and opportunities related to climate change in order to make investment decisions. These resources provide guidance for companies on enhancing climate-related disclosures in financial reports.

The hand of a business woman holding in the palm of her hand a pile of dirt with a plant shaped like a dollar sign, with the a globe in background

CPA Canada, with contributory funding from Natural Resources Canada, is conducting a multi-year initiative to support enhanced climate-related disclosures with a focus on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Successfully adapting to the physical risks of climate change will require most corporations and municipalities to change how they do business. The impacts of adaptation may include:

  • additional costs or other adverse effects
  • changes to strategic and operating plans
  • the opening up of new opportunities

Some of these impacts may occur in the short term; others may become more apparent as time passes, with actions taken to reduce greenhouse gas emissions influencing the nature and timing of adaptation efforts.

The ability to adapt to climate change will, for many entities, significantly affect their future. In some cases, not adapting or not being able to adapt may have dire consequences. Canadian capital markets and policy makers need relevant, consistent information to identify how climate change will affect corporations and public sector organizations, and to track how effectively these entities are adapting to the changes. In turn, entities themselves need consistent climate-related financial information for more informed decision making.