Chapter 8 of Davies Governance Insights 2020

In this chapter, we outline the significant developments that have taken place over the last year regarding the alignment and harmonization of the leading climate disclosure frameworks with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). We discuss the major environmental, social and governance (ESG) trends and initiatives that have unfolded in parallel with, and in some cases in response to, the COVID-19 global pandemic and consider their market implications. In our view, the short-term focus on economic survival in the wake of COVID-19 will not quiet the increasing demands for greater efforts to be made by companies to prepare and implement strategies to facilitate responsible and sustainable business practices, particularly with respect to material environmental and social issues within the broader ESG space; nor will such focus slow the recent progress already made.

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This chapter appears in the 2020 edition of Davies Governance Insights, our comprehensive annual report on the trends and issues most important to Canadian public companies.

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