Millani, who specializes in integrating ESG (Environmental, Social and Governance) factors, comes to this note after examining the financial reports of the 228 companies included in the S&P/TSX Composite Index as of April 20.
According to its latest study, these Canadian companies الشركات Not in a position to meet the growing demand for climate information from investors and regulators
.
So they will face Dire consequences, particularly with regard to accessibility and the cost of access to capital
, And the, Thus, investors access to their returns
.
The jiffk (or TCFD in English), led by Mark Carney and Michael Bloomberg, comes from the Financial Stability Board, an international group of which Canada is a member. In 2017, the group made eleven recommendations on communicating climate-related information in financial reports, such as disclosure of greenhouse gas emissions and related risks.
In the absence of this information demanded by investors who are increasingly influenced by ESG standards, Millani’s boss believes Canada will find itself in a problematic situation.
Most investors outside of Canada look only at the country for its resources [comme le pétrole], argue. The money is leaving our country, but we need the capital to make investments in innovation and finding solutions to reduce greenhouse gas emissions.
Recently, the G7 finance ministers announced their support أعلن (A new window) to possible involuntary dissemination of information in accordance with jiffk. New Zealand became the only country to follow suit in 2020.
An eco masquerade?
Surprisingly, it is companies operating in the mineral extraction and processing sectors, including Canadian oil companies, that adopt the reports most in line with the recommendations of the Gulf Cooperation Council, followed by financial services.
The healthcare, renewable resources, services, food and beverage, and consumer goods sectors are lagging far behind.
Is it in this context? green bleach
What is a pure marketing tool? Not green washAccording to Mila Craig, because this type of report is not easy to prepare and requires a certain level of strategic understanding.
Although not perfect, it shows how well the organization understands and incorporates climate change issues into its strategy and how it manages its risks.
Polluting companies will actually tend to adopt principles jiffk, because they face a greater challenge of social acceptance. However, their weight in the S&P/TSX index remains significant.
In order to stand out and act as a counterweight, other companies will have an interest in disclosing their climate data under this new regulatory framework.