According to the United Nations’ Intergovernmental Panel on Climate Change’s latest report, the science is now settled that human behaviour is the cause of climate change and it will have profound effects on our economy and natural world. In this episode, Osler’s Andrea Boctor, partner and Chair of the Pensions and Benefits group, discusses with Ecojustice lawyer Andhra Azevedo about how pension plan administrators’ fiduciary duty likely requires them to understand, assess, and manage climate-related risks. 

Earlier this year, the Council of the European Union agreed on two new directives that will form cornerstones of the European Green Deal and have far-reaching implications, affecting many Canadian businesses with operations in Europe or who are part of a global value chain delivering goods or services to Europe.

In this episode, Osler’s Lisa Mantello, a partner in the Banking & Financial Services group, hosts Ulrich Wolff, a Corporate partner at Linklaters in Frankfurt, to discuss how the new Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive mark a “step change” in ESG considerations, where the process goes from here, and how Canadian businesses that might be affected can get ready for the new compliance requirements.

This episode features Osler’s Andrew MacDougall, partner, Corporate, in conversation with Michael Torrance, Vice President and Chief Sustainability Officer of BMO Financial Group, about the importance of ESG to sustainability and corporate responsibility. ESG reinforces the idea that there is more to assessing a corporation’s performance than financial results to achieve long-term shareholder value. Good governance requires effectively integrating environmental and social considerations into all corporate decision-making that has a societal impact. 

This episode features a discussion involving Osler’s Shuli Rodal, partner, Competition/Antitrust and Foreign Investment, and Isabelle Crew, associate, Litigation; Regulatory, Environmental, Indigenous and Land, regarding environmental green claims and the enforcement that can be taken against deceptive marketing practices. Companies making false statements or misrepresentations have been subjected to severe penalties by the Competition Bureau. Until more detailed guidance is provided, legal practitioners will have to rely on first principles and general experience with the Bureau to navigate the current landscape regarding green claims.

This episode features Osler’s Andrew MacDougall, partner, Corporate, in a discussion about the International Sustainability Standard Board’s proposed standards focused on sustainability and climate-related disclosures. The proposals are designed to provide the market with a complete set of sustainability-related financial disclosures, as well as setting out specific requirements for the identification, measurement and disclosure of climate-related financial information. Andrew and Pat discuss the ISSB’s proposed standards and where they fit within the world of ESG disclosure, all with a view to the ISSB’s request for public comments due at the end of July 2022.