CSA issue additional environmental reporting guidance

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03 Nov 2010

The Canadian Securities Administrators (CSA) have published CSA Staff Notice 51-533 Environmental Reporting Guidance. The Notice should assist issuers in assessing which information must be disclosed on material environmental matters, such as risks related to weather patterns or environmental legislation.

It provides guidance on compliance with disclosure rules in the following areas:
  • Environmental risks and related matters;
  • Environmental risk oversight and management;
  • Forward-looking information requirements as they relate to environmental goals and targets; and
  • Impact of adoption of International Financial Reporting Standards (IFRSs) on disclosure of environmental liabilities.

The Staff Notice notes that IFRSs contain some important differences from Canadian GAAP for recognition and measurement of provisions (including environmental provisions) and offers a detailed comparison. Click for CSA press release (link to CSA website), CSA Staff Notice 51-533 (link to Ontario Securities Commission website) and our Canada country page.

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