Canada’s first sustainability standards: What businesses need to know

TORONTO, Dec. 18, 2024 (GLOBE NEWSWIRE) — Canada’s first-ever sustainability disclosure standards released today offer a clear framework for reporting new types of risk, and CPA Canada’s expertise and guidance is focused on helping businesses adapt and thrive under these new guidelines. 

This historic milestone solidifies Canada as a leader in transparent and consistent sustainability reporting, helping to build investor confidence and combat “greenwashing.”

While the standards are not yet mandatory, they enable organizations to prepare for potential future regulatory requirements.

“The finalization of Canada’s first sustainability standards marks a pivotal moment for businesses and investors alike,” says Rosemary McGuire, vice-president and head of research at CPA Canada.

“We commend the Canadian Sustainability Standards Board for their rigorous approach in developing these standards. By aligning with international standards set by the International Sustainability Standards Board (ISSB), Canada strengthens its position in global capital markets and enhances the competitiveness of Canadian businesses worldwide.”

CPAs play a crucial role in interpreting this data, bridging the gap between financial reporting and sustainability. With the CPA Canada Handbook, which now contains these sustainability standards, serving as their essential guide, these professionals are equipped to help businesses tackle climate challenges, seize new opportunities and measure progress toward global sustainability goals.

For more information or to schedule an interview, please contact media@cpacanada.ca.

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