This summary of the Canadian Sustainability Standards Board (CSSB) meeting 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 at [email protected].
Proposed Criteria for Modification Framework
The CSSB continued discussing whether to change or maintain the proposed Criteria for Modification Framework. The proposed Framework would include guiding principles for modifying the International Sustainability Standards Board’s standards to ensure compliance with Canadian laws and regulators while serving the Canadian public interest.
Proposed Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information
The CSSB continued discussing whether additional transition relief is required:
- for disclosures beyond climate-related risks and opportunities; and
- to align the timing of reporting sustainability-related financial disclosures with the related general-purpose financial statement.
The CSSB considered alternative approaches and structural changes to proposed CSDS 1 but will continue to review public feedback and revisit deliberations at future meetings.
Climate resilience (scenario analysis)
The CSSB discussed whether a transition relief period is required for both qualitative and quantitative scenario analysis.
Although the CSSB reached some preliminary consensus, it did not make any final decisions regarding the standards.
Trust and relationship-building with Indigenous Peoples
Continuing the 12-month multimodal and multidisciplinary educational program for CSSB members and staff on trust and relationship-building with Indigenous Peoples within the sustainability context, the Board was joined by Mi’kmaq Elder Joseph Michael, accompanied by his niece and helper, Sydney Clair Manson-Gehue. Elder Michael educated the Board about the Mi’kmaq community and the history of the lands in the Kjipuktuk (Halifax) region, while Sydney sang a prayer song during the ceremony.
On day two, Elder John Snow Jr. (Stoney Nation) from Treaty 7 territory shared a profound teaching, offering a historical perspective on his community’s experience of colonialism and the pathways taken to rebuild relationships in the reality of the contemporary Canadian context. He led the CSSB in deepening its awareness of Indigenous worldviews and education, with a focus on First Nations perspective. Elder Snow’s thoughtful conversation with members, and the mindful contributions of his partner and helper, Trish Snow, fostered a constructive dialogue with the Board, reinforcing its commitment to deeper Indigenous engagement and consultation.
On day three, long-time Membertou First Nation Chief Terry Paul joined the CSSB to discuss his community’s business development and relationship-building efforts in Nova Scotia. Chief Paul’s candid recollections of his life’s journey were insightful, and he led a lively question-and-answer session on his community’s focus on sustainability in business, reconciliation, and youth and the future.
The CSSB extends its sincerest gratitude to Elder Michael, Elder Snow, and Chief Paul for sharing their experiences, knowledge, and time.
Annual plan
The CSSB approved the final 2024-2025 Annual Plan, which outlines the Board’s mission, objectives, and projects for its inaugural year.