Compared to the development of financial reporting, the evolution of non-financial reporting has been rapid and fragmented. There are many regulations, reporting frameworks, guidance and tools which influence the corporate reporting process on environmental, social and governance issues (ESG). The resulting reporting landscape has been described in recent reports by the Business and Sustainable Development Commission1 and ACCA2, as complex, overwhelming and there have been calls for more harmonization and alignment.

The report is intended to help business navigate global sustainability reporting trends.

Review the report on the CDSB's website.

An organization should obtain appropriate professional advice when making important decisions about privacy and cyber insurance. Most insurance companies offer insurance policies specifically designed to protect an insured against losses and liabilities arising from privacy breaches and cybersecurity incidents.

The protection afforded by an insurance policy depends on the precise language of the policy (e.g. definitions, coverage descriptions, restrictions and exclusions) interpreted in accordance with legal principles established by Canadian courts.

Review the full article on Borden Ladner Gervais' website.

The publication outlines a three-step process to embed the Sustainable Development Goals (SDGs) into existing business and reporting processes. It helps business to better report their impact on the SDGs and address the information needs of relevant stakeholders. This Guide follows an approach that is aligned with the UN Guiding Principles on Business and Human Rights and the GRI Standards.

Review the press release and publication on the UNGC's website.

According to the article, there are three key steps to ensuring your organization is privacy compliant:

1. Appoint a designated privacy officer
2. Develop and/or update your privacy policy to ensure compliance with your organizations privacy practices and the current privacy jurisprudence
3. Ensure that the necessary safeguards are in place to protect your organization from privacy breaches and policies in place to quickly respond in the unfortunate event of a privacy breach.

Review the full article on Lawson Lundell LLP's website.

The proposal aims to simplify and tailor the compliance requirements of the Rule, which was finalized back in December 2013 to prevent banks from engaging in proprietary trading and from owning hedge funds or private equity funds.

Among other changes, this proposal intends to:

• Create categories of banking entities based on the size of their trading assets and liabilities
• Tailor compliance requirements based on a banking entity’s level of trading activity
• Modify the term “trading account” in the Rule
• Modify or remove select compliance requirements specific to certain proprietary trading and covered funds exemptions
• Create a presumption of compliance with the underwriting and market-making exemptions for certain trading desks whose activities fall within certain internal risk limits
• Modify certain requirements related to metrics reporting and streamline the related data collection process

Review the blog on the Center for Regulatory Strategy Americas' website.

What does it mean for Canada to be a global leader? How should Canadian businesses respond to constant disruption? Will a more inclusive business climate unlock Canada’s competitive advantage? Who will develop the leaders of tomorrow?

To answer these questions, Deloitte Canada has invested in a multi-year research initiative called Canada at 175 to study the factors that drive business performance, from productivity and preparedness for technological disruption to cultural business imperatives like courage and inclusion.

Deloitte’s newest research tackles perhaps the most important question of all: what are the traits for lasting business success? Not just to endure, but to thrive—and secure a more prosperous future in Canada.

View the video on YouTube.

The tax will be based on the carbon emissions from combusting the fuel or waste and is set to start at $10 per tonne of greenhouse gas emissions on January 1, 2019, and then rise by $10 per tonne each year until it hits $50 per tonne in 2023.

The proposed law also includes an output-based pricing system for large carbon emitters where instead of paying the tax they will pay for carbon emissions that are above national averages in their industry.

Directors and officers of corporations can also face personal liability if they assent to or participate in a corporation committing an offence.

Review the proposals on the Department of Finance Canada's website and an article on Norton Rose Fulbright's website.

If there is one word that is capturing the new normal pace of the age we are in, it is acceleration. One critical challenge that can’t be ignored is the company’s role in preparing its workforce for intelligent automation.

Two things are certain: one, in the near-term, we expect much workforce force disruption; and two, as artificial intelligence algorithms increase in sophistication and computational power, the pace of intelligent automation is likely to accelerate and push the workforce to focus on higher value activities. To meet that challenge, the workforce of the future will need to acquire a new set of skills rapidly in order to interact with the future of intelligent systems.

Review the full blog on NACD's website.

In this year’s budget, the federal government outlines how it intends to support economic growth, promote sustainability, and foster a thriving, inclusive society for all Canadians in a time of rapid change and ongoing uncertainty.

What does the federal budget mean for Canada and Canadian businesses?

We discuss the following three areas:

• Focusing investment and resources to drive competitive advantage
• Accelerating the flow of people, goods and ideas
• Disrupting the status quo in education and skills development

A video is also available where Albert Baker, Canadian Tax partner and Global Tax Policy Leader, offers his insights on the corporate tax measures contained in the 2018-2019 federal budget, reviewing both domestic and international tax proposals. And David Mason, Canadian Tax partner, discusses changes affecting private companies and their shareholders.

For more information, review the publication and a video.

In an article from Fasken, among other things, the changes will require domestic and foreign organizations subject to PIPEDA to:

• notify individuals about privacy breaches;
• report privacy breaches to the Office of the Privacy Commissioner of Canada and others in certain circumstances; and
• keep certain records of privacy breaches.

Review summaries from:

• McCarthy Tetrault
• Blakes

Review the press release on the Government of Canada's website.