The CCAQ supports the establishment of a global baseline for sustainability reporting, and we understand that there is widespread stakeholder support for the creation and adoption of a standardized sustainability risk assessment and a climate-related metric disclosure standard.
However, we believe that there are challenges with the application and implementation of these standards. Those implementing these standards could benefit from:
- An extended transition period for adoption of the standard
- Consideration of a phased transition period or a “safe harbour” provision for good faith estimates
- Additional considerations for small to medium sized public enterprises
- Practical guidance on how to apply “undue cost and effort” for small to medium sized public enterprises
- Standardization for scenario analysis and quantification techniques for climate resilience
- The development of verifiable sources of information for GHG emission metric disclosure in the Canadian market