Canada / Voluntary framework
Canada CSDS / CSA
Canadian Sustainability Disclosure Standards CSDS 1 and CSDS 2 (CSSB); CSA climate disclosure rule (paused)
Delayed2025-04-23NewModified
Topic : ESG disclosure · Level : National
Today
CSDS voluntary since FY2025; CSA paused its mandatory climate rule on 23 Apr 2025, no restart announced.
Summary
Canada's ISSB-based standards (CSDS 1 and 2) are voluntary since 2025. The securities regulators paused their mandatory climate disclosure rule in April 2025. Federally regulated financial institutions remain under OSFI Guideline B-15.
Who is concerned
- Turnover
- non précisé
- Employees
- non précisé
- Listed company
- cotées seulement
- Sectors
- All sectors
- Banks/insurers (OSFI B-15)
- Triggering activities
- Reporting issuer in Canada (if CSA acts)
- Voluntary CSDS adoption
- Extraterritorial reach
- No
non précisé
- Examples
- TSX-listed miner using CSDS voluntarily
- Federally regulated bank under OSFI B-15
What the law requires
- Disclose climate governance, strategy, risk and metrics (CSDS 2)
- Report Scope 1 and 2 emissions; Scope 3 after 3-year relief (FY2028 if adopted 2025)
- Apply CSDS 1 on wider sustainability risks if adopted
Penalties
None while voluntary; securities law misrepresentation rules apply to published statements.
SUPPLIER INTELLIGENCE
What this changes for a supplier in China
Indirect: Canadian adopters reporting Scope 3 from 2027 may ask Chinese suppliers for emissions data.
Expected evidence
- Site Scope 1 and 2 emissions
- Product carbon footprint
- Energy consumption data
Tiers : Tier 1
Net Zero Pulse