CPA Canada study of climate-related disclosures by Canadian public companies

This summary outlines key findings from a Chartered Professional Accountants of Canada (CPA Canada) study of climate-related disclosures provided by TSX-listed companies in their securities filings.

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Climate change is a key business issue. With the ratification of the global Paris agreement and the Canadian federal government's recent announcement of a national carbon price, it is clear the transition to a low-carbon, climate-resilient economy is underway. As a result of regulatory obligations and growing investor interest, climate change has significant implications for corporate disclosure.

Our study looks at the nature and extent of climate-related disclosures made by Canadian public companies in their securities filings (financial statements, annual information forms [AIF], management's discussion and analysis (MD&A), and information circulars). While this review indicates broad disclosure of climate-related information among Canadian companies, it also suggests there may be a gap between investor information needs and current corporate reporting practices.

This summary highlights key findings from the study and opportunities for CPAs, companies, securities regulators and investors to engage in meaningful dialogue to enhance climate-related disclosures in regulatory filings. The full study results will be released in early 2017.