News

Researcher from the School of Accounting and Finance cautions that clear regulatory oversight is needed to protect investors.

The topic of sustainability is becoming increasingly popular in the investment world with sustainable investing creating a large global impact. This significant shift lead the School of Accounting and Finance's (SAF) Dr. Adam Vitalis and his co-authors to research how green labels attract investors to certain projects which can open the door to greenwashing. 

The School of Accounting and Finance (SAF) is proud to collaborate with the Waterloo Climate Institute and Natural Resources Canada (NRCan) on the Accelerating Climate Change Education for the Next Generation of Professionals initiative. 

This initiative focuses on developing impactful course materials that integrate climate change adaptation into professional programs, with the ultimate goal of embedding sustainability into all SAF programs through The Hub for Sustainability Integration.

The Inaugural Hub for Sustainability Integration Conference took place on March 21st at the Delta Hotel in Toronto. The day was filled with informative presentations and panel discussions from some of the country’s most knowledgeable sustainability integration and climate advocates. 

The Canadian Sustainability Standards Board (CSSB) announced the release of new proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB).

The release of the new standards may form a significant step towards the introduction of mandatory climate-related reporting requirements for Canadian companies.

The ISSB was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies’ prospects.

Read the full article here.

Coca-Cola Launches 100% Recycled Plastic Bottles in Canada

The Coca-Cola Company announced today the launch of 100% recycled plastic bottles in Canada, with all 500 ml sparkling beverage bottles – including flagship brands Coca-Cola, Sprite and Fanta – in the country using 100% recycled plastic, excluding caps and labels, by early 2024.

According to the company, the move will save 7.6 million pounds of new plastic in 2024, and reduce CO2 emissions by nearly 7,000 metric tons annually.

Read the full article here.

Guest Post by Rob Fisher, KPMG U.S. ESG Leader

Large organizations are increasingly subject to an array of ESG reporting obligations. Incentivized by grants and tax credits, these large companies are driving the move toward sustainability.

However, it’s the small and mid-sized companies that make up nearly 90% of businesses worldwide and employ almost half of North America’s workers.

Therefore, it is crucial to explore how sustainability wins from small businesses can snowball into the larger value chain.

Read the full article here.

Ten things to know about the first ISSB Standards

Better information leads to better economic decisions. IFRS S1 requires companies to communicate the sustainability-risks and opportunities they face over the short, medium, and long term. The requirements are designed to ensure that companies provide investors information relevant to decision-making. IFRS S2 sets out specific climate-related disclosures and is designed to be used with IFRS S1. Both Standards are based on recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Issuing these Standards is just the starting point. The ISSB is consulting on future priorities to help determine what comes next. We welcome your feedback before the consultation closes on 1 September 2023.

Read the full article here.

Home Depot Says 85% of Lawn Equipment Sales to be Battery Powered by 2028, Saving 2 Million Tons of Emissions per Year

Home Depot announced a new goal to have more than 85% of its US and Canada sales of outdoor power equipment, including lawn mowers, leaf blowers and trimmers to be powered by rechargeable batteries, instead of gas.

According to the company, the transition would reduce more than 2 million metric tons of greenhouse gas (GHG) emissions per year, with gas-powered mowers creating as much pollution in an hour as driving 300 miles in an average car, and a gas leaf blower generating emissions similar to driving 1,100 miles.

Read the full report here.

In the future, booking a trip could mean boarding an airplane that runs on sustainable aviation fuel (SAF) converted from mustard seeds, used French fry oil or other renewable materials.

SAF is a low-carbon alternative to conventional jet fuel made with petroleum that is compatible with today’s aircraft engines and airport infrastructure.

Learn about eFuels, a new class of renewable fuels that are produced using renewable energy sources like wind and solar.

Read the full article here.