Sustainable Finance-Defining Green Taxonomy for Canada

CSA Group
Standards Development Organisation:
Canadian Standards Association (operating as CSA Group)
Working Program:
View the CSA work program
Designation Number:
CSA R12000
Standard Type:
National Standard of Canada - Domestic
Standard Development Activity:
New Standard
Status:
Proceeding to development
SDO Comment Period Start Date:
SDO Comment Period End Date:
Posted On:

Scope:

Building on existing global frameworks, the TC will develop a Canadian-specific National Standard of Canada for “Green and Transition Finance” which will define Green and In Transition sectors in Canada, enabling these sectors to be recognized in global green and transition financial instruments

Project need:

In the quickly emerging global green and sustainable finance markets, many Canadian sectors are at risk of being excluded from Green and Transition financial products and services, such as Green Bonds and Green Loans. Most green taxonomies developed around the world do not recognize several Canadian natural-resource sectors as being Green or In Transition. Canada needs to develop a made-in-Canada definition of Green as an important contribution to this rapidly changing landscape. A Canadian national standard is a solution to address this need. asset managers, insurance companies etc. It will provide the industry with a made-in-Canada definition of Green. This will meet the strategic needs of the following key interests: • banks, pensions, wealth and asset managers, insurance companies, rating agencies, regulators, industry associations, individual companies, interest groups, service providers, foundations, endowments, consultants, professional associations, federal and provincial governments and others Geographic Representation: The CSA technical committee has a broad range of geographic representation including participants from all major regions of Canada. Use of “CAN” descriptor is not necessary for this project

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