Author is worried that a longer growing season and less severe winters would be devastating to Canada’s economy.
OTTAWA — Canadian businesses are putting their bottom line and the country’s economic health at risk by neglecting to prepare for anticipated impacts of a changing climate, says a new report released Friday by a federal government-funded advisory panel.
The study, produced by the National Round Table on the Environment and the Economy, says that securities regulators also have a role to play in requiring better information from businesses for the public and investors.
“Despite guidance to the effect already issued by the Canadian Securities Administrators, climate change risk disclosure in financial filings is limited, at best,” said the report, entitled Facing the Elements: Business resilience in a changing climate. “Better enforcement of disclosure requirements is necessary, as are effective approaches for companies to demonstrate the value of climate change risk management and adaptation actions to investors.”