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].
The CSSB met virtually for a total of 9 hours in January to discuss:
Launch of Canadian Sustainability Disclosure Standards (CSDSs)
The CSSB received an update on meetings with key partners and early engagement data regarding the launch and promotion of CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures.
2025-2026 Annual Plan and Indigenous Rights Work Plan
The CSSB reviewed planned activities, deliverables, and timelines of the draft 2025-2026 Annual Plan, including a multi-year work plan to advance the inclusion of Indigenous Peoples in sustainability standard setting. The draft plan was approved for presentation to the Reporting and Assurance Standards Oversight Council at its February 2025 meeting. The final 2025-2026 Annual Plan will be approved and published in spring/summer 2025.
2024-2025 Performance Report
The CSSB approved its revised 2024-2025 Performance Report for presentation to the Oversight Council for review at its February 2025 meeting.
Climate-first Guide
The CSSB reviewed draft guidance material on how to implement the CSDSs on a climate-first basis and discussed additional amendments.
CSSB Committee
Staff presented information to the CSSB about the various models of external committees and working groups serving Canada’s other standard-setting boards. The Board discussed options, including timing and purpose of possible external committees. The Board asked CSSB staff to provide additional information for review at a future meeting.
Guidance development for CSDSs
A CPA Canada staff member made a presentation to the CSSB outlining CPA Canada’s approach to developing non-authoritative guidance and opportunities to coordinate and collaborate with the Board on plans to support the implementation of CSDSs. The Board will consider this information together with feedback from the CSSB’s Proposed 2025-2028 Strategic Plan consultation as it deliberates on the most appropriate path forward for guidance development.
Proposed Amendments to the IFRS Foundation Due Process Handbook
The CSSB agreed to formally respond to the Exposure Draft, “Proposed Amendments to the IFRS Foundation Due Process Handbook.”