About the Submission:

This submission is in response to a consultation paper issued by the Canadian Sustainability Standards Board (CSSB) in March 2024.

In June 2023, the International Sustainability Standards Board (ISSB) issued its first standards: IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2, Climate-related Disclosures. Then in March 2024 the CSSB issued a consultation paper on its first standards, Canadian Sustainability Disclosure Standards (CSDS) 1 and 2, which seek to mirror the intent of the international standards, but add a Canadian context.

Committed to the global baseline the ISSB established, CSDS 1 and 2 align with IFRS S1 and S2 – but with Canadian-specific modifications suggested. Proposed modifications include a Canadian-specific effective date and transition relief proposals to help with eventual implementation of the standards.

The consultation paper seeks input from all interested parties on these Canadian-specific modifications. GRI submitted comments based on its extensive experience in climate risk management and sustainability reporting.