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Policy Briefing: Green Economy
The Canadian Securities Administrators, made up of securities regulators from all 10 provinces and 3 territories, says it plans to release its climate change progress report in April. Eric Marshall/Wikimedia Commons photograph

Canadian Securities Administrators prepare report on climate disclosure as advocates push for new reporting requirements for businesses

The report comes as advocates call on businesses to be more forthright about the risk they face from disruptions caused by climate change, including the introduction of new regulations.
As Canada makes this low-carbon transition, we need to do it in a way we can afford. What’s happening to Canada’s steel and aluminum producers on the tariff front is a reminder of how delicate a balance we need to strike. We need to find ways to incent industries to reduce their greenhouse gas emissions but in a manner that preserves their international competiveness.
'A guiding policy which claims no compromise is necessary in achieving sustainable growth in perpetuity is deaf to the material realities of our biosphere.'
Clean Energy Canada noted Canadian small and medium-sized businesses were outpacing larger corporations, including traditional energy companies, in its shift toward renewables.
Mark Jaccard, an energy economist at Simon Fraser University, says its great that the government is taking action, but they need to at least cap oil sands expansion if it wants to make targets outlined in the 2015 Paris Climate Accord.
When asked if the government was considering a support fund for extractive industries or other businesses poised to be hit hard by the new carbon price, Environment Minister Catherine McKenna said it was not, and instead noted that all revenue generated from the price will be returned to the 'jurisdiction of origin.'
'The former Conservative government reversed most of the progress made over the last decades, taking us back to a time before we knew the impacts of pollution and environmental degradation on our health, biodiversity, and economy. Unfortunately, though promising to reverse those changes, the current government talks a great game, but has forfeited progress by not showing up.'
'Instead of speaking to the dangers of the carbon economy, focusing on positive messages of preparedness for a changing climate conveys a sense of resilience and safety.'

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