Designing a Canadian Taxonomy: From Fragmentation to Credible Transition

Canada is developing a green and transition taxonomy at a pivotal moment. For the taxonomy to be credible and usable, it will need to support real-world investor decision-making while aligning with credible transition pathways and evolving international frameworks. New research by the Institute for Sustainable Finance and the UN-supported Principles for Responsible Investment (PRI) draws on a joint survey of Canadian investors to help inform this discussion. Read more about the report here.

This panel discussion explored the survey results and addressed key design and implementation questions. The conversation examined how taxonomies can operationalize credible transition pathways, support stewardship and capital allocation decisions, and address practical implementation challenges. Panelists also discussed the institutional and policy conditions needed to support adoption, as well as perspectives on interoperability and alignment across jurisdictions. Together, we explored what it will take for Canada to develop a taxonomy that is robust, practical, and durable for investors and the broader financial system.

Moderator

Keira Kang

Policy Specialist, Canada, PRI

Keira Kang is a Policy Specialist for Canada at the UN-Supported Principles for Responsible Investment (PRI), where her work focuses on advancing sustainable finance frameworks in Canada including sustainability disclosure standards, transition policies and investor engagement with policymakers and regulators. She convenes institutional investors, leading policy dialogues, and developing strategies that align capital markets with long-term sustainability objectives. Keira holds a Bachelors degree in International Development from McGill University and a Masters in Critical Information Policy from the University of Toronto.

Presenters

Marlene Puffer

Chair, Canada’s Taxonomy and Transition Planning Council

Marlene Puffer is a seasoned investment executive and board director with deep expertise across business strategy, global capital markets, pension investments and governance, and enterprise and culture transformation. She has held CEO, CIO, and board roles at leading Canadian institutions, including Chief Investment Officer at AIMCo, CEO of CN Investment Division, and Vice-Chair of the Board and Chair of the Asset-Liability Committee at HOOPP, overseeing multi-billion-dollar portfolios across private and public markets. She has championed long-term sustainable investing and inclusivity throughout her career.
Marlene currently serves as Chair of Canada’s Taxonomy and Transition Planning Council and Chair of the Railpen Investment Oversight Committee in London, UK and as a member of the Advisory Board for the Canadian Leadership Congress. She has previously served on the board of Rife Resources, as Vice-Chair of the Pacific Pension and Investment Institute (PPI), and as President of Women in Capital Markets (now VersaFi).

Yingzhi Tang

Senior Research Associate, Institute for Sustainable Finance

Yingzhi Sarah Tang is Senior Research Associate with the Institute for Sustainable Finance. Previously she worked with both the private and public sector in Europe, Asia and North America to accelerate their climate and biodiversity ambitions. She has led research on green finance and energy transition for emerging markets at the International Institute of Green Finance (Beijing, China), supported the insurance and banking sectors’ climate risk assessment projects at the UNEP Finance Initiative (Geneva, Switzerland) and the Intact Centre on Climate Adaptation (Waterloo, Canada).

Panel Discussion

Isabella Piuzana Rolla

Taxonomy Project Manager, Climate Bonds Initiative  

Isabella Piuzana Rolla is a Taxonomy Project Manager at the Climate Bonds Initiative, working on the development international sustainable finance taxonomy projects, interoperability efforts and capacity‑building with government officials, regulators and market stakeholders. She is a corporate lawyer and holds a master's degree in international development from the University of Barcelona, as well as a Certificate in Climate and Investing from the CFA Institute.

Jan Vandermosten

Senior Policy Specialist - Transition & Taxonomy, PRI 

Jan Vandermosten is a senior policy specialist at the Principles for Responsible Investment (PRI), where he leads the organisation's work on economic transition policy and sustainable taxonomies. He is also a member of the Secretariat of the Taskforce on Net Zero Policy. Before joining PRI, Jan worked at WWF - leading a climate engagement programme with Europe's largest asset owners. He holds master's degrees in modern history and European politics from the Catholic University of Leuven.

Moin Syed

Associate Director, Sustainable Investing, OMERS

Moin Syed joined OMERS Sustainable Investing team in 2020. In his role, he supports the execution of OMERS sustainable investing framework. He works across the fund on matters related to sustainability factor integration, climate risk and the energy transition. Prior to joining OMERS, Moin worked at a sustainability ratings firm where he focused on sector and company research for institutional investors. He holds a BA from Allegheny College and MSc from the University of Calgary.

Nicole Yazbek-Martin

Executive Manager: Sustainability Standards and Practice, Australian Sustainable Finance Institute

Nicole is an executive at ASFI leading the development of sustainable finance standards to increase capital flows to the climate and nature transition and embed them into practice. Notably, Nicole led the development of the Australian Sustainable Finance Taxonomy working closely with government and regulators, on the development of common definitions for investible economic activities aligned to the net zero, nature positive transition. She is working with leading Australian and global financial institutions and standard setters on best practice implementation, use and interoperability of taxonomies in both debt and equity markets. Nicole has a background in climate and sustainability in government, banking, investment and law. She has deep knowledge and experience working across the finance value chain on structuring sustainable lending, assessing sustainable investment credentials and applying key sustainability frameworks, and in the public sector, has led the design and review of major climate and nature policies. Nicole holds a Master of Laws in international trade and post-graduate qualifications in finance and economics.