Julie Segal

On sustainable finance rules, specific:
- Rules to counter greenwashing were removed. This was essentially the only policy Canada had on SF, before.
- Climate reporting and transition plans no progress.
- A climate finance taxonomy was re-announced for the fourth time. Utility TBD based on details.

On climate, general:
- Reducing emissions intensity is discussed - instead of reducing absolute levels. What?
- The idea of a 'plan' on climate action with goals and targets appears scrapped. The Prime Minister is famous for saying 'a plan is better than no plan' - there appears to be none.

The annual budget for Canada came out yesterday and I miss Twitter!!!

We'll discuss problems, solutions, progress, needs.

Join us on September 29th for this conversation. Ten years ago on that day, @mark-carney.bsky.social made a speech to alert investors about the financial risks from climate change. The climate Tragedy is at eye level now, not a future horizon. Let's discuss!

www.tragedyofthehorizon.org

New York is near to joining California in requiring climate-related disclosures (both climate risks and emissions data), starting in 2027/28. Parts of North America picking up slack.

Including requirements to make the reporting publicly accessible and financial penalties for non compliance.

CSA Letter News Release — Women Leading on Climate

Kudos to the 100+ 🇨🇦 women leaders who signed #WomenLeadingonClimate’s letter calling on provincial securities regulators to stop delaying & move now on climate disclosure. It’s about more competitive, efficient and resilient markets. Sign & share! 💪 www.womenleadingonclimate.org/csa-letter-n...

Home - Business Future Pathways Canada Business Future Pathways provides practical, investor-endorsed, internationally aligned, and made-in-Canada guidance to help companies operationalize and report credible climate transition plans to gl...

A new climate Transition Plan organization launched in Canada: Business Future Pathways.

Risk / emission disclosure is a start, but a transition plan is for action. In a sinking boat, counting the leaking holes isn't enough, plugging the holes is a necessary solution.

www.businessfuturepathways.ca

I won't analyze these on their merits here - Now you know what each political party 🟥 🟧 🟩 🟦🔵 in our new government proposes related to climate-aligned finance.

🔵 Conservative Party: Nothing that I could find.

(Nor a Bluesky handle to tag!)

🟦 Bloc Québécois @yfblanchet.bsky.social: 1) Introduce a climate-aligned finance bill. 2) Demand the federal pension plan divests from fossil fuels. 3) Demand the federal government doubles green bond issuance. 4) Advocate for federal tax incentives which make green RRSPs more advantageous.

🟩 Green Party @elizabethemay.bsky.social: 1) Divest federal public investment funds from fossil fuels and require Crown corporations to do the same. 2) Mandate Canadian banks and pension funds to phase out fossil fuel investments and transition financing toward clean energy

🟧 New Democratic Party @ndp.ca: 1) Stop big banks and industries from greenwashing their fossil fuel investments with a framework for climate accountability. 2) Require all federally regulated entities to have credible plans to meet Canada’s climate commitments and to meet those plans by law.

🟥 Liberals @mark-carney.bsky.social: 1) Climate risk disclosure to better assess climate risks and opportunities, enable the development of transition plans, and help align capital towards a sustainable economy. 2) Finalize and implement sustainable investment guidelines by fall 2026.

Canada's election is done. Here's what each party proposed for climate-related finance. In a minority government, parties all have a degree of influence, so knowing what each parties proposed.

See here:

I laughed, reading this in reference to me (even though you mean it in reference to CSA).

The securities regulators regressing on climate-related requirements will leave businesses less prepared, investors less informed, and Canada’s economy less competitive. Postponing requirements for businesses to prepare for climate change and align with positive climate action is not savvy.

Global partners with stronger climate finance rules are becoming more important to our Canadian economy (you may have noticed... the U.S. picked a fight with Canada). Over 1,300 Canadian companies are covered by European sustainability reporting rules.

Canadian Regulators Hit Pause on Mandatory Climate Reporting Requirements - ESG Today Canada’s securities regulators announced that they are pausing their work on the development on key sustainability reporting initiatives, including a new mandatory climate-related disclosure rule and ...

Canadian provinces just decided that securities (i.e. publicly traded companies) don't have to think about how they affect/are affected by climate change. Bad call.

www.esgtoday.com/canadian-reg...

On climate, will the real Mark Carney please stand up? Climate change dominated Carney’s work in recent years, but it’s currently unclear whether his push to accelerate the transition to a low-carbon economy is on hold

I shared with @theglobeandmail.com: “All of Canada’s non-U.S. trade partners are advanced on sustainable finance policies – some with taxonomies, almost all with disclosures, almost all with 1.5-degree-aligned transition plans.” Canada has to meet that level.

www.theglobeandmail.com/business/art...

Canada is ‘lagging behind’ other countries on climate finance: Carney Testifying before the Senate in May 2024, the prime minister advocated for a "transition planning requirement" for Canadian financial institutions to prepare for the shift to carbon neutrality.

I spoke with @ledevoir.com @nationalobserver.com about finance and climate change, they noted that @mark-carney.bsky.social and myself both point to Canada as "lagging behind" global partners in setting rules. We need to fix this, I provided recommendations: www.nationalobserver.com/2025/04/09/n...

Le Canada est «à la traîne» de la finance climatique, déplorait Carney en 2024 Avant d’être en politique, le banquier saluait le projet de loi S-243 sur la finance alignée sur le climat.

J'ai parlé avec @ledevoir.com de la finance et du changement climatique. Ils ont noté que @mark-carney.bsky.social et moi-même avont dit que "le Canada est à la traîne" par rapport à nos partenaires mondiaux. On devons y remédier, j'ai conseillé des recommandations: www.ledevoir.com/environnemen...

One of the longest standing positions in Canada!!

Most importantly: Since you just read the words “King” and “Canada” paired together - make sure you take a minute today to learn a new thing about Indigenous communities on this land. This is an especially good moment to turn your brain to learning about the history and future of Reconciliation.

Receiving this medal from @senrosagalvez.bsky.social who has led many Canadian climate solutions is a particular honour!

I’m hugely honoured to have been awarded a King Charles III Coronation Medal, awarded to people for having made exceptional contributions to Canada. Our country is super, and it’s such an honour to work with people to help make it even better.

YouTube video by insurancebureau Protecting Your Tomorrow

This @insurancebureau.bsky.social advertisement does not mention climate change when it laments that "extreme weather is getting worse in Canada".

Protecting Canadians means reducing emissions to prevent climate-caused damage, not only a payout when damage happens.

www.youtube.com/watch?v=Gx5p...

Professionals working in climate research and policy jobs are among a limited group who must regularly google search, copy, and paste the degree sign symbol.

Saving this for later: °

Casual final sentence here, way to bury the lede CBC!

"Carney is expected to call an election by the end of the week, to take place in late Apr or early May."

If you're out of the country and you want to vote, here's what you need to do as soon as the election is announced ⬇️

Congratulations Madison! Supremely deserved.