Canadian Sustainability Criteria Board Announces To start with Canadian Sustainability Disclosure Expectations for Community Session

TORONTO, March 13, 2024 /CNW/ – The Canadian Sustainability Requirements Board (CSSB) is happy to announce the release of its to start with proposed Canadian Sustainability Disclosure Criteria (CSDS), marking a major milestone in advancing sustainability reporting in Canada.

Canadian Sustainability Benchmarks Board (CNW Team/Economic Reporting & Assurance Specifications Canada)

The proposed specifications purpose to set a new benchmark for the disclosure of sustainability-connected facts, facilitating a far more steady and comparable technique.

“With the launch of the to start with proposed Canadian Sustainability Disclosure Benchmarks, we’re taking a major phase in the direction of making sure that sustainability is not just a buzzword but a elementary aspect of our financial cloth,” states Charles-Antoine St-Jean, Chair, CSSB. “Our aim is to empower organizations to not only talk their sustainability general performance effectively but to generate significant action in the direction of a extra sustainable upcoming for all.”

About the Session

The Global Sustainability Standards Board (ISSB) issued its initially criteria in June 2023 – IFRS S1, Normal Necessities for Disclosure of Sustainability-connected Economic Data and IFRS S2, Weather-associated Disclosures.

Committed to the world wide baseline the ISSB founded, the CSSB’s proposed CSDS 1 and CSDS 2 align with IFRS S1 and S2 – but with Canadian-unique modifications advised. Also available for general public comment is a paper discussing how the CSSB proposes to introduce modifications, if essential, to IFRS Sustainability Disclosure Specifications for use in Canada.

Proposed modifications to CSDS 1 and CSDS 2 include things like Canadian-particular effective dates and changeover reduction proposals to assist with eventual implementation of the standards.

Public Consultation Information

The CSSB is inviting responses and opinions from all intrigued parties as component of a robust general public consultation system. This inclusive approach guarantees that a extensive variety of views are regarded in the finalization of the requirements.

“We believe that through collaborative and clear reporting, we can construct a much better, additional resilient overall economy. The community session system for these proposed standards and the standards with which we introduce modifications to global expectations is a lot more than an prospect for opinions it is a contact to action to add to shaping sustainability disclosures now and in the future,” describes Charles-Antoine.

The CSSB values the enter of all individuals and seems forward to participating in meaningful discussions to refine and enrich the proposed requirements. Remarks on all the proposals are thanks by June 10, 2024, with a wide variety of alternatives to provide comments available.

About the CSSB

The Canadian Sustainability Criteria Board (CSSB) works to advance the adoption of sustainability disclosure benchmarks in Canada. The CSSB develops Canadian Sustainability Disclosure Requirements (CSDS) that align with the world-wide baseline standards designed by the Global Sustainability Expectations Board (ISSB) – but with modifications to provide the Canadian community curiosity.

For additional information

To study additional about the proposals and participate in the general public consultations, you should check out FRASCanada.ca/CSSB.

Source Economical Reporting & Assurance Standards Canada

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View unique articles to obtain multimedia: http://www.newswire.ca/en/releases/archive/March2024/13/c3058.html

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