Envizi incorporate functionality to support compliance with the ISSB/CSSB standards

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Hi Peter and Kathy,

Further to our training, the standards we were referencing are the International Sustainability Standards Board’s (“ISSB”) International Financial Reporting Standards (“IFRS”) S1 General Requirements for Disclosure of Sustainability-related Financial Information, and S2 Climate-related Disclosures.

Earlier this year the Canadian Sustainability Standards Board (“CSSB”) published exposure drafts of Canadian Sustainability Disclosure Standard (“CSDS”) 1, General Requirements for Disclosure of Sustainability-related Financial Information and CSDS 2, Climate-related Disclosures. CSDS 1 and 2 are identical to IFRS S1 and S2, except for the effective dates and transition relief. The CSSB is currently reviewing comments received on the CSDS exposure drafts and expects to release final standards in December 2024. See here: https://www.frascanada.ca/en/cssb/news-listings/2024-feedback-statement-media-release

Once finalized, CSDS 1 and 2 will be voluntary until incorporated in whole or in part into a Canadian Securities Administrator (“CSA”) rule. In March 2024, the CSA released a statement indicating that once the CSDS are finalized, the CSA anticipates seeking comment on a revised rule setting out climate-related disclosure requirements drawing from CSDS 2. The CSA also noted that it anticipates adopting only those provisions of CSDS 1 (sustainability-related disclosure) that are necessary to support climate-related disclosure: https://www.securities-administrators.ca/news/canadian-securities-regulators-issue-statements-on-proposed-sustainability-disclosure-standards-and-ongoing-climate-consultation/

Given the CSA’s focus on CSDS 2, many Canadian organizations are prioritizing compliance with climate-related standards (CSDS 2/IFRS S2) first.

Would be great to see Envizi incorporate functionality to support compliance with the ISSB/CSSB standards, and particularly climate-related standards (CSDS 2/IFRS S2). I imagine this would be of interest to many of your Canadian clients.

Thanks,

Raeya