Corporate Knights

MARCH 14, 2023

Starting in 2024, the Office of the Superintendent of Financial Institutions (OSFI) will require federally regulated banks and insurance companies to start collecting information on their CO2 emissions and climate risks for annual disclosure beginning in 2025. OSFI rejected both suggestions. OSFI focuses this mandate on short-term risks.

Banking 271

Banking Divestment Climate Change 271

Chris Hall

MAY 31, 2024

Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. In addition to divesting from oil, CDPQ plans to deepen its practice in the biodiversity space and expand the scope of its commitments in nature-positive themes.

Divestment 81

Divestment Net Zero Climate Change COP26 81

Chris Hall

JUNE 13, 2024

But the government has drawn criticism regarding its ability to achieve agreed climate targets – such as a 100% reduction of greenhouse gas emissions by 2050 compared with 1990 levels – even from its own Climate Change Committee. In May, a High Court ruling ordered it publish a revised net zero strategy.

Net Zero 89

Net Zero Divestment Supply Chains Supply Chain 89

Chris Hall

OCTOBER 4, 2023

Reporting on Scope 3 under SB 253 will also be delayed until 2027, giving companies one extra year to prepare when the law comes into effect in 2026, whereby reporting on Scope 1 and 2 will be required. We’re in effect setting a national standard at a time when we’re still waiting for our US federal regulators to move ahead.

Climate Change 136

Climate Change Greenhouse Gas Protocol Supply Chains Supply Chain 136