Canada’s private sector needs reliable and consistent data and information to play its critical role in addressing climate risks and harnessing clean and resilient growth opportunities. The existing transparency gap is distorting market risk assessment, slowing progress on the low-carbon transition, and leaving Canada’s economy vulnerable to impacts.
In its final report, the Canadian Expert Panel on Sustainable Finance recommended forming a Canadian Centre for Climate Information and Analytics (C3IA) as a trusted single-stop source for authoritative climate data and information relevant to sustainable finance. This research sheds light on specific data gaps and pain points, and how the C3IA can help.
Across dozens of interviews, experts echo that a lack of transparency is distorting economic activity away from the best available solutions for climate change. This report discusses solutions: access to necessary climate-related data and decision tools is a critical foundation for better disclosure-based transparency, informed lending and investment decisions, and financial resilience to the physical impacts of climate change. The private sector is the best source of industry and market insight in scoping the C3IA. With a more cohesive view of risk and opportunity, and common language and tools for assessment, Canada’s financial sector can begin charting the path towards a thriving low-emissions, climate-resilient economy.
This report looks at fiduciary duty across eight markets (US, Canada, UK, Germany, Brazil, Australia, Japan and South Africa) through a series of events, interviews, case studies and a legal review.