ESG Global Advisors Inc.

Canada is one step closer to having sustainability disclosure standards! This week, the Canadian Sustainability Standards Board (CSSB) published responses to their public consultation. As anticipated, organizations expressed mixed views on key issues within the draft standards, particularly around relief provisions focused on the timing of sustainability-related disclosures, Scope 3 emissions and forward-looking climate scenario analysis. ESG Global's response was highlighted in this Responsible Investor article, which illustrates the array of views of leading Canadian market participants on these topics. What's next? The CSSB is now in analysis and decision-making mode, with a view to finalize the standards by year-end. Stay tuned! Read the Responsible Investor article here: https://lnkd.in/d_m_6WQk #ESG #SustainabilityReporting #ISSB #CSSB #ClimateChange

Congratulations to our client Canada Development Investment Corporation (CDEV) on the release of their 2023 Taskforce on Climate-Related Financial Disclosures (TCFD) report!    We celebrate CDEV's continued commitment to transparency and accountability by detailing its progress on addressing climate-related risks and opportunities. #TCFD #ESGreporting #ESGstrategy

Thanks to our talented team of ESG professionals, we are proud to have renewed our Great Place To Work Certification through an employee-validated process!    ESG Global has attracted top talent who have worked on both sides of the capital markets, including former executives and recipients of sustainability awards. As ESG experts, we appreciate that the way we prioritize our company culture is linked to our success as a firm and works to enhance our ability to provide high value expert advisory services to clients. #GPTWcertified See ESG Global's GPTW page here: https://lnkd.in/e8-2RuiV

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐰𝐡𝐚𝐭 𝐁𝐢𝐥𝐥 𝐂-𝟓𝟗 𝐦𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬?    Many Canadian businesses are concerned about recent amendments to the Canadian Competition Act through Bill C-59, particularly as it introduces significant penalties for “greenwashing” or misleading environmental claims about products and services.   While much uncertainty remains about how amendments to the Canadian Competition Act will be enforced by the Competition Bureau, Principal Alison Joutsi shares 5 key steps businesses should take now to prevent misrepresentations in ESG Global's latest piece. #BillC59 #CompetitionAct #C59 #Greenwashing #ESG Read it here: https://lnkd.in/emmFDunX

On July 25th, ESG Global Advisors' CEO, Sarah Keyes, FCPA, FCA, will be discussing Bill C-59 at a special briefing offered by the Responsible Investment Association. Alongside Denes Rothschild, Partner at Borden Ladner Gervais LLP (BLG), Sarah will discuss the Bill, share insights on the Competition Bureau and possible next steps around their consultation, and potential implications for responsible investors. Learn more here: https://lnkd.in/gbc34fmJ

On August 20th, 2024, ESG Global Advisors' CEO Sarah Keyes, FCPA, FCA and Principal Alison Joutsi will be speaking about Bill C-59 at a free webinar offered by the Governance Professionals of Canada (GPC). Bill C-59 has introduced significant changes to the Competition Act, including new provisions targeting misleading environmental claims about products and services (i.e. 'greenwashing'). While many terms remain undefined and subject to interpretation, the Competition Bureau is launching a public consultation to inform their guidance on how to comply with these new requirements on #greenwashing. Join us for this GPC webinar to learn more about Bill C-59, the implications for Canadian businesses, and advice on how to prepare. Register now: https://lnkd.in/ef5XTwe8

A coalition of leading Canadian pension funds that collectively manage over $2 trillion in assets has submitted a letter to the Canadian Sustainability Standards Board (CSSB) recommending that it reconsider proposed exemptions for sustainability reporting given global and domestic investors’ expectations. The letter emphasizes the coalition’s strong support for adopting the International Sustainability Standards Board (ISSB) Sustainability Disclosure Standards as proposed and underscores their view that adhering to existing ISSB guidelines supports consistency in reporting and investor confidence. The letter is signed by representatives from the following major pension funds: BCI Caisse de dépôt et placement du Québec (CDPQ) CPP Investments | Investissements RPC HOOPP (Healthcare of Ontario Pension Plan) OMERS Ontario Teachers' Pension Plan PSP Investments University Pension Plan Ontario Interested in reading the letter? Access it here: https://lnkd.in/eDEH4Y7w

🌱🌎🏛️ On June 5th, ESG Global's CEO, Sarah Keyes, FCPA, FCA, contributed to The World Federation of Exchanges' Global Meeting on Sustainability. A key focus of the event was to discuss the ESG issues within the exchange and market infrastructure space, with an emphasis on how the industry will meet the challenges of financing the green transition. As part of a panel that looked at ESG reporting regimes for SMEs, Sarah highlighted the implications of putting a high regulatory burden on SMEs, while emphasizing the fact that SMEs are major contributors to the Canadian economy. Sarah noted that ESG reporting is a performance issue, not just a regulatory issue, and that the cost of inaction needs to be balanced with burden of reporting.

When responding to evolving ESG reporting expectations, including mandatory disclosure requirements, it is important to understand what is driving the demand for sustainability information. A key point is that emerging regulation related to ESG reporting is being driven by investors who are looking for consistent, reliable and decision-useful sustainability information to inform their investment and financing strategies. The investor demand for high quality sustainability information is well illustrated by a recent Call to Action published by the Principles for Responsible Investment (PRI) with the London Stock Exchange Group (LSEG), the UN Sustainable Stock Exchanges Initiative and the World Business Council for Sustainable Development (WBCSD). This document calls for regulatory adoption of the International Sustainability Standards Board’s (ISSB) standards – IFRS S1 and IFRS S2 – on an economy-wide basis by 2025. Notably, the statement was endorsed by 121 investors, companies, and other organizations across various sizes and geographies, reflecting widespread support for the adoption of the ISSB standards. Learn more here: https://lnkd.in/ejP83RN8

It's never too early to start developing an #ESG strategy - particularly for companies seeking to do M&A transactions!    ESG has emerged as table stakes for assessing company value in these types of transactions, with more than 70% of M&A leaders reporting abandoning potential acquisitions over ESG concerns, and a vast majority saying they would be willing to pay more for targets with strong ESG attributes, as confirmed by a new survey released by Deloitte. Other key findings from the survey include:   The Growing Influence of ESG on Dealmaking Decisions: 72% of respondents reported that they have decided not to proceed with a potential acquisition due to concerns about the target’s ESG profile, up from less than half of respondents in 2022. These results were mirrored by respondents on the sell-side of transactions, with 66% reporting that they have been forced to abandon a divestiture for ESG-related reasons, compared with 33% in the 2022 survey.   The Growing Influence of ESG factors on M&A Valuation: 83% of respondents reported that they would be willing to pay a premium of at least 3% for an asset with a high ESG profile, or one that improves their organization’s ESG profile, compared to only 62% in the 2022 survey, and only 1% said that they would not pay any premium for a high ESG profile, compared to 8% who reported this in the prior survey. Additionally, 67% said that they would seek a discount of at least 3% due to a negative ESG profile, up significantly from only 27% in the prior survey. Interested in reviewing the survey results? Access the Deloitte report here: https://lnkd.in/dTAm35Z5