For Immediate ReleaseOctober 27, 2010
Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-333 Environmental Reporting Guidance for reporting issuers about meeting existing environmental disclosure requirements.
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. These disclosure requirements are set out primarily in National Instrument 51-102 Continuous Disclosure Obligations.
Environmental matters comprise a broad range of issues, including air, land, water and waste. These matters can affect issuers in several ways, including interrupting operations, resulting in material unplanned costs, providing new business opportunities, and potentially affecting reputation, capital expenditures, and a licence to operate.
“Greater transparency is needed regarding the nature and extent of environmental risks and other environmental matters,” said Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). “This guidance should greatly assist issuers in complying with their disclosure obligations, which would ultimately provide investors with much more complete information on environmental matters.”
Following consultations with investors, issuers and experts, the Notice provides guidance on compliance with disclosure rules in the following areas:
Copies of the Notice and related rule materials are available on the websites of CSA members.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Theresa EbdenOntario Securities Commission416-593-8307
Sylvain ThébergeAutorité des marchés financiers514-940-2176
Mark DickeyAlberta Securities Commission403-297-4481
Ken GraceyBritish Columbia Securities Commission 604-899-6577
Ainsley CunninghamManitoba Securities Commission204-945-4733
Wendy Connors-BeckettNew Brunswick Securities Commission506-643-7745
Natalie MacLellanNova Scotia Securities Commission902-424-8586
Barbara ShourounisSaskatchewan Financial Services Commission306-787-5842
Janice CallbeckPEI Securities Office Office of the Attorney General 902-368-6288
Doug ConnollyFinancial Services Regulation Div.Newfoundland and Labrador709-729-2594
Graham LangYukon Securities Registry 867-667-5466
Louis ArkiNunavut Securities Office867-975-6587
Donn MacDougallNorthwest Territories Securities Office 867-920-8984
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