CPA Canada calls climate disclosure rule pause ‘a step backward'
TORONTO, April 28, 2025 (GLOBE NEWSWIRE) — The Canadian Securities Administrators' recent decision to pause its work on mandatory climate disclosure rules is a disappointing development that risks undermining both market transparency and Canada's global competitiveness, says CPA Canada president and CEO.
As climate-related risks become increasingly material to business operations, Pamela Steer says consistent and comparable sustainability reporting is essential for investors to make informed decisions.
'Pausing progress on the climate disclosure rule is a disappointing step backward at a time when Canada must be moving forward,' says Steer.
The decision comes at a critical juncture, as other jurisdictions around the world strengthen their climate disclosure frameworks. Without standardized requirements, Canadian organizations continue to report climate risks inconsistently, making it harder for investors to accurately assess exposure and shifting the burden of interpretation onto them.
'In a global economy where assessing climate risk is increasingly a prerequisite for investment, this decision risks making our markets less attractive to international capital that we urgently need to drive innovation, competitiveness and economic growth,' says Steer.
Institutional investors have already indicated that mandatory reporting would improve Canada's standing in the race for global capital. While the pause may give businesses time to build internal capacity for future reporting, CPA Canada warns that further delays could undermine investor confidence and stall momentum.
'Canada cannot afford to fall behind,' says Steer. 'CPA Canada remains hopeful this is only a temporary pause, and that the CSA will soon renew its commitment to the consistency and clarity the market needs.'
To schedule an interview with CPA Canada's president and CEO, Pamela Steer, please contact
media@cpacanada.ca
.
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