We are advocating for strong
public policies to help
transition the private sector

Strong regulation has an important role to play in advancing the public interest, catalyzing more ambitious action, and improving clarity and certainty for business leaders.

Falling Behind: Canada’s Future in a Low Carbon World

On Energy Day at COP27, we released a whitepaper outlining the risks to Canada posed by the rapidly accelerating energy transition, and identified a three-pronged policy program to help reallocate capital away from fossil fuels towards green activities. By performing a comparative analysis of Canadian energy firms and financial institutions, we demonstrate that the Canadian economy is uniquely exposed to transition risk, and demonstrate how prevailing corporate net-zero transition plans are incompatible with a 1.5 degree future. 

Click here to view the document, and here to see a shorter summary of the report.

Responding to OSFI’s consultation on Draft Guideline B-15 Climate Risk Management

In October 2022, we responded to the climate risk disclosure guidelines for Canadian firms developed by the Office of the Superintendent of Financial Institutions. In our response, we outline the need for OSFI to consider systemic risk by integrating double materiality and the precautionary principle, and argue that the regulator must go beyond self-regulation by outlining requirements for 1.5-degree aligned transition plans.

Click here to view the document.

Responding to the ISSB consultation on S1 and S2 Exposure Drafts

In July 2022, we responded to the consultation by the International Sustainability Standards Board on its draft sustainability standards. In our response, we criticize the organization’s focus on single materiality, and outline the need for the standards to include explicit references to 1.5 degree pathways as outlined in EU’s Corporate Sustainability Reporting Directive. We share our finding that 72% of respondents to the original 2020 consultation favoured double materiality, including a majority of private sector stakeholders.

Click here to view the document.

Endorsing the Climate-Aligned Finance Act (tabled March 24, 2022)

We are proud to endorse the Climate-Aligned Finance Act, a landmark piece of legislation introduced by Senator Rosa Galvez that would align Canada’s financial sector with its required climate commitments. The Climate-Aligned Finance Act is a huge step in the direction towards a clean energy, low-carbon future.

Click here to view the document.

Supporting the purpose policy paper authored by the Social Purpose Institute.

We are happy to have contributed and to support the recommendations developed by the Social Purpose Institute on accelerating social purpose business in Canada, including the adoption of a Social Purpose Business Act.

Click here to view the document.

Supported the passage of the Net-Zero Accountability Act

We helped circulate a briefing authored by Christie McLeod on necessary reforms to Bill C-12, the proposed Net-Zero Accountability Act, and collected signatures from youth and youth organizations across the country. The Net-Zero Accountability Act successfully passed and received royal assent on June 29th, 2021. To learn more about this act, see this short guide from Senator Rosa Galvez

Click here to view the document.

Co-authored a youth letter on building back better from COVID-19

In 2020, we helped co-author a letter on the topic of a green and just recovery from COVID-19, alongside 13 members of the Prime Minister’s Youth Council and six other youth organizations. The letter was read by Prime Minister Trudeau’s cabinet at their annual retreat, and called for the creation of a green public bank, the attachment of green strings to stimulus spending programs, increased tax rates on upper income brackets and corporations, and other proposals.

Click here to view the document.

Supported a youth submission to the Office of the Superintendent of Financial Institutions on climate-related risk disclosure

In 2021, we helped support a submission to the Office of the Superintendent of Financial Institutions, led by Julie Segal and George Benson, on the topic of mandatory climate-related risk disclosure for major financial institutions. This submission was supported by nine youth leaders representing four different organizations. The summary of all responses to OSFI’s consultation paper is available here.

Click here to view the document.