Canada / Voluntary framework
TSX ESG / CSDS
TSX Primer for Environmental & Social Disclosure; CSSB CSDS 1 and CSDS 2 (voluntary)
In force2024-12-18Modified
Topic : ESG disclosure · Level : Stock exchange
Today
Voluntary only. CSA climate and diversity rules paused since 23 Apr 2025, no restart found by Nov 2026; CSDS 1-2 voluntary.
Summary
Canada has no mandatory climate disclosure for listed companies. Securities regulators paused their draft rule in April 2025. Companies may use the voluntary Canadian standards CSDS 1 and 2, based on ISSB.
Who is concerned
- Turnover
- non précisé
- Employees
- non précisé
- Listed company
- cotées seulement
- Sectors
- All sectors
- Triggering activities
- Listing on TSX or TSX Venture
- Extraterritorial reach
- No
non précisé
- Examples
- TSX-listed mining company
- TSX-listed bank
- TSXV-listed junior issuer
What the law requires
- Disclose material climate risks under existing securities law
- Use CSDS 1 and 2 on a voluntary basis
- Follow federal rules for banks and insurers (OSFI B-15)
Penalties
No penalties under voluntary guidance. Misleading disclosure handled under provincial securities law.
SUPPLIER INTELLIGENCE
What this changes for a supplier in China
Limited. Canadian buyers using CSDS 2 may request Scope 3 data, mainly mining and manufacturing groups.
Expected evidence
- Scope 1 and 2 emissions data
- Product carbon data on request
- Supplier ESG questionnaire
Tiers : Tier 1
Net Zero Pulse