The Canadian Securities Administrators says it has indefinitely paused work on developing new mandatory climate disclosures and updating diversity reporting rules in response to recent developments in the United States.
Stan Magidson, chair of the CSA, says it made the decision to support companies because of the rapid shift in the global economic and geopolitical landscape.
He says the regulator will instead focus on making Canadian markets more competitive, efficient and resilient.
In recent years, there’s been a push to require companies to report more details on what climate-related risks they face and how they plan to address them, as well as disclosing their own emissions and efforts to reduce them….