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Canadian Sustainability Disclosure Standards

Adoption of CSDS 1 and CSDS 2 based on IFRS S1 and IFRS S2

Summary

The Canadian Sustainability Standards Board (CSSB) is working to advance the adoption of sustainability disclosure standards in Canada.

The CSSB acknowledges the importance of IFRS Sustainability Disclosure Standards as issued by the International Sustainability Standards Board (ISSB). As a result, the CSSB is developing Canadian Sustainability Disclosure Standards (CSDS) that align with the global baseline – but with modifications in the Canadian public interest.

This project is focused on developing CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures, which will align with IFRS S1 and S2 but with modifications proposed to reflect Canadian needs.

Staff Contact(s)

Omolola Fashesin, MBA, CPA, FCCA, FSA Principal, Sustainability Standards

Project Status

  • Information gathering

    FRAS Canada staff consulted the market on the ISSB’s IFRS S1 and S2 Exposure Drafts in 2022

    ​Recurring themes were identified through analysis of IFRS S1 and S2 responses submitted from Canada to the ISSB​

    ​The regulatory landscape was reviewed to understand decisions that could influence sustainability disclosures in the country​

  • Approving project

    In November 2023, the CSSB confirmed its intention to advance the adoption of sustainability standards in Canada through a consultation in 2024

  • Consulting stakeholders

    Exposure Drafts of the proposed CSDS 1 and CSDS 2 are now out for public comment until June 10, 2024

  • Deliberating feedback
  • Final pronouncement

Exposure Draft - Proposed CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information

Take part in advancing sustainability disclosure standards in Canada by providing your feedback by June 10, 2024. 

Exposure Draft - Proposed CSDS 2, Climate-related Disclosures

Take part in advancing sustainability disclosure standards in Canada by providing your feedback by June 10, 2024. 

News


April 10, 2024

Resource, Webinar

On-demand Webinar – Proposed Canadian Sustainability Disclosure Standards and Criteria for Modification Framework

Watch our on-demand webinar to learn about the Exposure Drafts on proposed Canadian Sustainability Disclosure Standards (CSDS) 1 & 2, and to help prepare your response for our key documents.

March 13, 2024

Document for Comment, News

CSSB Exposure Draft - Canadian Sustainability Disclosure Standard (CSDS) 1: General Requirements for Disclosure of Sustainability-related Financial Information

The Canadian Sustainability Standards Board (CSSB) wants your feedback on its Exposure Draft, CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information. Read our Exposure Draft and submit your comments to have your say in the adoption of sustainability disclosure standards in Canada. We welcome feedback until June 10, 2024.

March 13, 2024

Document for Comment, News

CSSB Exposure Draft - Canadian Sustainability Disclosure Standard (CSDS) 2: Climate-related Disclosures

The Canadian Sustainability Standards Board (CSSB) wants your feedback on its Exposure Draft, CSDS 2, Climate-related Disclosures. The Standard includes proposed requirements for disclosing climate-related risks and opportunities. Read our Exposure Draft and submit your comments to have your say in the adoption of sustainability disclosure standards in Canada. We welcome feedback until June 10, 2024.

March 13, 2024

News

Media Release – Canadian Sustainability Standards Board Announces First Canadian Sustainability Disclosure Standards for Public Consultation

Canada’s first proposed Canadian Sustainability Disclosure Standards (CSDS) are out for public comment until June 10, 2024. Exposure Drafts on CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures align with the 2023-released IFRS S1 and S2 global baselines, with modifications introduced to align with Canadian-specific needs. Also out for comment is a paper discussing how the CSSB proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada. The Board will be offering a variety of ways to take part in the consultation, ensuring a wide range of perspectives are considered before finalizing the proposals.

March 13, 2024

Resource, In Brief

In Brief – A plain and simple overview of the recently issued Exposure Drafts, “Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information” and “CSDS 2, Climate-related Disclosures

The CSSB has issued two Exposure Drafts, “CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information,” and “CSDS 2, Climate-related Disclosures.” This webpage provides a plain and simple overview of the Exposure Drafts and ways you can provide your input.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.