This summary of decisions of the Canadian Sustainability Standards Board (CSSB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by the CSSB. For more information, please contact Sustainability Standards staff: [email protected].
On October 22-23, 2024, the CSSB members met in person in Toronto, ON, for a total of 16 hours to approve and/or discuss the agenda items outlined here.
Criteria for Modification Framework Basis for Conclusions
The CSSB approved the Criteria for Modification Framework Basis for Conclusions, which will be released in December 2024 along with the disclosure standards.
Indigenous Matters
The CSSB approved an Indigenous-specific feedback statement called “Indigenous Matters: What We Heard,” which was published on the FRAS Canada website in November 2024.
Educational material on sustainability reporting
The CSSB discussed releasing educational materials on adopting a climate-first approach in sustainability reporting. The Board also discussed the communications strategy for and the content of the educational material that staff and members will provide during the launch of the inaugural sustainability standards to provide catered education to different audiences and promote uptake of the standards.
Performance Report and Annual Plan
The CSSB reflected on the 2024-2025 Performance Report, which will be presented to the Reporting Assurance Standards Oversight Council in February 2025 for its review and assessment. The Board provided suggestions on what projects and details to include in the report, such as details on Indigenous education modules the Board engaged with.
Additionally, the CSSB began discussing the 2025-2026 Annual Plan, including possible projects and educational guidance work the Board can provide in the coming year.
Educational and informational sessions
The CSSB engaged in three educational and informational sessions during this meeting, including on the history and current processes of the CPA Canada Handbook – Accounting, which will house the sustainability standards. The CSSB also engaged in an informational session about the Accounting Standards Board and discussed critical opportunities for coordination and collaboration between the two boards when it comes to overlapping issues like sustainability educational awareness.
The third educational session was provided by Dr. Graeme Reed, Strategic Advisor to the Assembly of First Nations, who led the CSSB through the fourth Indigenous Peoples Educational Program module and provided insights into First Nation perspectives on sustainability and climate change. Dr. Reed and the Board engaged in a rich question-and-answer period to explore how the Board can start to incorporate Indigenous worldviews in its work. The Board thanks Dr. Reed for his valuable time and teachings.