News Release

IFIC supports CSSB’s proposed Canadian sustainability disclosure standards

By voicing support, IFIC aims to inform future Canadian securities regulation

June 13, 2024 (Toronto) – The Investment Funds Institute of Canada (IFIC) has made a submission to the Canadian Sustainability Standards Board to show its support for proposed Canadian sustainability disclosure standards that would align closely with the International Sustainability Standards Board’s (ISSB) standards.

Canadian standards are needed because sustainability and climate-related disclosures are currently not complete, consistent or comparable, and quantitative information is only provided voluntarily.

Sustainability information is used by many investment managers to assess the risks and opportunities of individual securities and to guide corporate engagement and proxy-voting activities. It is also critical for understanding how sustainability and environment issues, including climate change, are affecting individual companies and how the activities of individual companies are in turn affecting sustainability and climate-change factors and the broader environmental, economic and investment landscape.

Investment managers need the information to meet their own sustainability and climate-related investment objectives, and to report in accordance with securities regulators’ ESG disclosure expectations. High-quality information and data are critical to ensure alignment between investment objectives and investments.

IFIC’s members – investment funds and their managers, and dealers – play important roles in Canadian and global financial markets. “Investment funds are an indispensable vehicle for investors seeking to achieve their long-term financial goals,” says Andy Mitchell, President and CEO, IFIC. “We support initiatives that strengthen sustainability reporting in ways that will benefit markets, funds, and investors.”

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information:

Christine Harminc
Senior Manager, Communications and Public Affairs
charminc@ific.ca
416-309-2313