Best Practice & Ethics
Canadian task force backs better sustainability disclosure
The Canadian Institute of Chartered Accountants
welcomed
recommendations for greater integration of environmental, social and
governance considerations into decision making.
The proposals were made by the
National Round Table on the Environment and
the Economy (NRTEE), and the NRTEE's task force on
capital markets & sustainability has produced seven recommendations for
those involved in Canada's capital markets.
Among the recommendations are that financial institutions disclose environmental, social and governance (ESG)
considerations and an investment policy, and are encouraged to sign up
to the United Nations-sponsored Principles for Responsible Investment.
The task force also recommended that investment managers and pension fund
trustees engage with companies on the potential materiality of ESG issues and
encourage the use of standardised ESG reporting.
Canada's federal government should also lead by example by actively
integrating ESG factors in to federal funding of grants and projects related to
capital markets and federal pension plans, the task force recommended.
Links
Canadian Institute of Chartered Accountants
National Round Table on the Environment
and the Economy
Capital Markets and Sustainability: Investing in a Sustainable Future
March 2007 |
