The past twelve months witnessed a rapid growth in environmental, social and governance (ESG) developments. Initiatives from a range of stakeholders – including regulators, institutional shareholders and the media – kept organizations and their boards focused on these emerging issues. Several new proposals for climate-related disclosure were launched. Shareholder activism turned more squarely towards ESG-related matters, targeting various topics such as climate change and health and safety. Increasingly, ESG activists are using litigation to challenge how companies market or portray their products, services or policies as being environmentally friendly. Further, “greenwashing” claims are attracting interest from both regulators and class action plaintiffs.
Proposed requirements for climate-related disclosure
Last year, we noted that the Canadian Securities Administrators…
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