Premier Supports Greater Clarity from Businesses on Climate Plans.
Premier Kathleen Wynne shared today her support for continuing to strengthen climate-related financial disclosures in Ontario. Increasing public access to this information will help investors make more informed decisions, and give businesses more incentive to innovate in an era of climate change. In a meeting today with Michael Bloomberg, federal Minister of the Environment and Climate Change Catherine McKenna, and senior leaders in Ontario’s financial services and natural resources sectors, Premier Wynne commended the work of Mr. Bloomberg’s Task Force on Climate-Related Financial Disclosures (TCFD). She commits to work with the financial community, Ontario regulators and the TCFD to increase transparency in Ontario through climate-related disclosures for publicly traded companies, asset owners and asset managers. The Task Force on Climate-related Financial Disclosures, an industry-led initiative headed by Mr. Bloomberg, has won endorsements around the world. Publicly traded companies participating in the Task Force voluntarily report on factors such as greenhouse gas emissions. Premier Wynne also indicated her support for the work conducted by the Ontario Securities Commission and other members of the Canadian Securities Administrators (CSA) as part of the recently released Report on Climate change-related Disclosure Project. The CSA will be developing new guidance and educational initiatives to help publicly traded companies consider the material business risks and opportunities, and potential financial impacts, of climate change. Strengthening the ability of Ontario’s financial sector to respond to climate change is one way Ontario is supporting the fight against climate change. In addition:
Tackling climate change and supporting a low-carbon economy for Ontario are part of the government’s plan to support care, create opportunity and make life more affordable during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and easier access to affordable child care. |
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