Submission to the Canadian Securities Administrators’ Climate Change Disclosure Project

SHARE and Addenda Capital wrote to the CSA to provide input into their consultation on climate change disclosures. Comments included ways in which investors are using climate-related disclosures as well as what is needed to better assess and mitigate climate-related risks in investment portfolios.

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Letter to the Minister of Environment and Climate Change Canada

SHARE, the Interfaith Center on Corporate Responsibility (ICCR) and Ceres Investor Network on Climate Risks and Sustainability (INCR) wrote a joint statement to The Honorable Catherine McKenna MP to express support for strengthening regulations that would reduce the release of methane and certain volatile organic compounds (VOCs) from the upstream oil and gas sector.s.

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Submission to the Ontario Securities Commission’s 2017-18 Draft Statement of Priorities

SHARE wrote to Ontario Securities Commission (OSC) to comment on its annual priorities, asking that it initiate a market-wide consultation on the practicality of requiring issuers to adopt advisory “say on pay” votes.

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Submission to the House Financial Services Committee

SHARE wrote to the US House Financial Services Committee about the draft legislation for the Financial Choice Act asking the committee to reject the seriously flawed anti-investor provisions. The bill aims to revoke various financial sector reforms introduced under the Dodd Frank act after the 2008 financial crisis.

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Submission to the Department of Finance Canada – Financial Institutions Divisions

SHARE provided input on the Interim Report, Supporting a Strong and Growing Economy: Positioning Canada’s Financial Sector for the Future. SHARE’s comments focused on opportunities for the Canadian government to use this review to more closely align Canada’s financial sector with sustainability.

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Submission to the Changing Workplaces Review (CWR)

SHARE provided comments on the Changing Workplaces Review: Special Advisors’ Interim Report and highlighted the importance of greater transparency from companies on their approaches to workplace policies and practices.

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Submission to Canadian Association of Pension Supervisory Authorities (CAPSA)

SHARE asked the Canadian Association of Pension Supervisory Authorities (CAPSA) to revise its Pension Plan Governance guidelines and related documents to better guide pension administrators on the integration of environmental, social and governance matters in investment decision-making.

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Comment to the Ontario Securities Commission’s 2016-17 Draft Statement of Priorities

SHARE commented on the Ontario Securities Commission’s (OSC) 2016-17 Draft Statement of Priorities, urging the Commission to consult with stakeholders regarding adoption of regulations requiring issuers to hold an annual “say on pay” vote, to enhance its systemic risk oversight with regard to climate change, to update guidance to issuers on disclosure of environmental considerations, and to consider whether additional diversity measures such as Aboriginal heritage should form part of future board and senior executive diversity disclosure requirements.

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CIBC v. Green Supreme Court Decision

The Supreme Court released its ruling in the case of CIBC v Green. SHARE intervened in the case to argue that investors should not be prevented from advancing their claims because of procedural difficulties related to the three-year time limit within which they were required to obtain leave to pursue legal action. The decision of the Supreme Court is a clear indication that legislatures must act to ensure clear rules for shareholder remedy and protect the transparency of capital markets.

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Alberta Climate Policy Investor Letter

A group of 120 institutional investors representing over C$4.6 trillion in assets under management from Canada, US and Europe that invest in Alberta delivered a joint letter today to Alberta Premier Rachel Notley supporting the government of Alberta’s commitment to update and strengthen its climate policy. The letter is also available in French.

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Comment on the Ontario Securities Commission’s 2015-16 Draft Statement of Priorities

SHARE urged the Commission to: consult with stakeholders regarding adoption of regulations requiring issuers to hold an annual “say on pay” vote; provide guidance to issuers on disclosure of social considerations; study the potential for mandatory ESG reporting by issuers; extend its investor education activities; study the market-level risks created by climate change; and consider adopting greenhouse gas emissions reporting requirements including requiring energy producers to quantify the carbon price forecasts they use in capital expenditure decisions.

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Letter to the Federal Minister of Finance on Carbon Pricing

A letter on behalf of fifty-three religious institutional investors with combined assets of more than $2 billion asking that the Government of Canada establish mechanisms to set a clear, reliable and effective price for carbon emissions with the goal of reducing greenhouse gas emissions and limiting catastrophic climate change.

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