5 days Ago
A Syncrude oil sands mining facility near Fort McKay, Alberta in 2022. ED JONES/Getty Images The Canadian Sustainability Standards Board has named Bay Street lawyer and former regulator Wendy Berman as its chairperson as the group takes the next steps in integrating climate disclosures with financial reporting at public companies. Ms.
Berman takes over from Bruce Marchand, who held the post on an interim basis since the resignation of the group’s inaugural chair, Charles-Antoine St-Jean, in August 2024. She has 30 years of experience in securities regulation, sustainable finance, litigation and corporate governance. Ms.
Berman was most recently a partner and head of McCarthy Tétrault LLP’s national securities litigation group, and is a former vice-chair of the Ontario Securities Commission. The CSSB was formed to tailor international reporting standards to the Canadian market. In December, it published its first guidelines , which prescribe how companies can report key sustainability and climate metrics, including carbon emissions, risks and opportunities tied to environmental issues, analysis of potential policy options, and other items.
The rules are voluntary, though Canadian Securities Administrators, which represents provincial and territorial securities commissions, said it will use them to determine a future set of compulsory measures, starting with climate-related reporting. The board said Ms. Berman “has long been a trusted voice in aligning financial markets with transparent, credible sustainability disclosures and in complex governance crises situations.
” She begins her tenure on May 5..
