ISF Welcomes Federal Finance Committee’s Call to Action on Sustainable Finance

The Institute for Sustainable Finance (ISF) welcomes the pre-budget report of the Standing Committee on Finance, which calls on the federal government to adopt the recommendations of the Expert Panel on Sustainable Finance.

As the Government prepares for Budget 2020, the committee’s report further underscores the need to align our financial systems and services to promote long-term environmental sustainability and economic prosperity.

The Canadian Expert Panel on Sustainable Finance outlines a number of ways to achieve this, including defining and implementing a climate-related financial risk disclosure regime, bringing climate change under the scope of fiduciary duty, and integrating sustainability issues into both risk management and the investment decision-making process.

The global shift to a sustainable economy is inevitable and underway, with the new rules of sustainable finance currently being written by other countries. The longer Canada delays, the more we risk. We need our leaders across government, finance, and industry to work together so we can grasp the lucrative opportunities and manage the risks of a low-carbon transition.

In order for Canadian firms to compete on the world stage, we need to empower Canada’s financial sector to design a “made-in-Canada” sustainable finance system. The Standing Committee on Finance’s report today is an important step in the right direction and we hope to see more action from all Canadian leaders and decision-makers.

To support this effort, ISF is creating the most credible and robust body of sustainable finance knowledge in Canada through research, professional development, academic programs, and partnerships. By harnessing the best and brightest of Canadian minds and providing a critical resource for Canadian leaders, we can help Canadian leaders move sustainable finance forward.

Interviews with Institute for Sustainable Finance spokespeople:

Brett Aylward 
P: 613-899-9563
Email: baylward@argylepr.com

To learn more about the Institute for Sustainable Finance, please visit: isfcanada.org