The Canadian Securities Administrators (CSA) is strongly in favour of setting up an International Sustainability Standards Board (ISSB) and is offering Canada to host the ISSB headquarters.
"Establishing international standards is an important step in enhancing industry reporting and disclosure that yields reliable, complete, and comparable information for investors," said Louis Morisset, CSA chair and President and CEO of the Autorité des marchés financiers. "As a global ambassador that prioritizes strong governance, stewardship and leadership, the CSA is supportive of advancing the ISSB and believes Canada is uniquely positioned to be its home."
Canada offers expertise and experience for new board
Canada has one of the most diversified economies in the world, with industries offering expertise, experience, history and leadership in standard-setting, governance, sustainability reporting and climate-related financial disclosures. Issuers and large asset managers are committed to setting up comparable, high-quality environmental, social and governance standards and reducing carbon emissions, domestically and globally, said the CSA.
Canada is also recognized for fostering consensus, collaborative leadership and innovation on environmental issues. This includes the Canada-United Kingdom Partnership on Clean Growth and Climate Change, the Canada-EU High-Level Dialogue on Environment in 1983, and the High-Level Dialogue on Climate Change in 2010.