This summary of decisions of the Canadian Sustainability Standards Board (CSSB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by the CSSB. For more information, please contact Sustainability Standards staff: [email protected].
The CSSB met in person in Montreal to discuss the agenda topics outlined here.
Market Questions and Outreach Update
The CSSB received an overview from staff on:
- questions related to Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements For Disclosure Of Sustainability-Related Financial Information, and CSDS 2, Climate-Related Disclosures, received through various forums in January and February; and
- past and upcoming events and planned engagement activities.
External Environment Considerations
The CSSB discussed current and emerging macro-environmental factors impacting sustainability disclosure reporting in Canada and other jurisdictions.
International Sustainability Standards Board (ISSB) Guidance
CSSB staff provided an overview of publicly available implementation resources the ISSB issued for IFRS S1 General Requirements For Disclosure Of Sustainability-Related Financial Information and IFRS S2 Climate-Related Disclosures. The CSSB discussed various options to leverage and disseminate these resources to support the adoption and use of CSDSs.
Climate-first Guide
The CSSB discussed next steps regarding timing and publication of the draft Climate-first Guide.
United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP)
As part of the CSSB’s ongoing education on Indigenous Peoples’ rights, the Board received a presentation from lawyer Risa Schwartz, who specializes in international law and the intersections with the rights of Indigenous Peoples. The presentation focused on:
- Indigenous rights in an international context;
- the evolution of UNDRIP in Canadian and provincial law; and
- key elements of UNDRIP and the Truth and Reconciliation Commission of Canada: Calls to Action.
CSSB Due Process Manual Amendments
The CSSB discussed potential Due Process Manual amendments as part of a broader forthcoming review of its inaugural governance documents.
2025-2026 Annual Plan
The CSSB approved the 2025-2026 Annual Plan, which will be posted on its website in the spring of 2025.
Update on Sustainability Accounting Standards Board (SASB) Project
The CSSB discussed the ISSB’s forthcoming enhancement project on the SASB industry-based standards and identified potential concerns and next steps.
Proposed IFRS Foundation Due Process Handbook Amendments
CSSB staff outlined a proposed approach to responding to the IFRS Foundation’s Exposure Draft, “Proposed Amendments to the IFRS Foundation Due Process Handbook.” The Board discussed timelines and next steps.
2024-2025 Annual Report
The CSSB approved the 2024-2025 Annual Report, which will be posted on its website in the summer of 2025.
ISSB Update – Amendments to IFRS S2
CSSB staff reviewed the forthcoming ISSB consultation regarding amendments to IFRS S2. The CSSB discussed due process, timing implications, and alternative approaches to obtain Canadian perspectives related to this project.