Sustainable Finance Lobbying Overview: The Canadian Bankers Association (CBA) appears to have had somewhat limited engagement on sustainable finance policies, taking mixed positions on the role for finance in the energy transition and on corporate climate disclosure policies.
Top-Line Messaging on Sustainable Finance Policy: CBA has supported a role for finance in delivering the goals of the Paris Agreement but President and CEO Anthony G. Ostler has advocated for continued investment in hydrocarbons for the “medium term.” In a 2022 submission to the House of Commons Standing Committee on Finance, CBA stated support for “promoting sustainable finance” but did not clearly support regulation on the financial sector to achieve this.
Position on Regulated Corporate ESG Disclosure: In 2022, CBA supported the Canadian Securities Authorities’ (CSAs) proposed climate disclosure requirements, advocating for increased ambition in Scope 1 and 2 disclosure requirements but asserting that Scope 3 should be required on a “comply or explain” basis for large issuers. In 2022 comments to the SEC, CBA outlined objections to the Commission’s draft climate disclosure rules, not supporting financial statement, scenario analysis, or transition plan disclosure requirements.
Position on Incorporating ESG Factors Into Risk Management/Prudential Regulation: In a 2022 briefing, CBA appeared supportive of Canada’s efforts to develop climate-related financial risk management guidelines.
Transparency: CBA has not provided a comprehensive disclosure of its sustainable finance policy positions and engagement activities. It has disclosed general membership but not board membership.
Sustainable Finance Lobbying Overview: The Canadian Bankers Association (CBA) appears to have had somewhat limited engagement on sustainable finance policies, taking mixed positions on the role for finance in the energy transition and on corporate climate disclosure policies.
Top-Line Messaging on Sustainable Finance Policy: CBA has supported a role for finance in delivering the goals of the Paris Agreement but President and CEO Anthony G. Ostler has advocated for continued investment in hydrocarbons for the “medium term.” In a 2022 submission to the House of Commons Standing Committee on Finance, CBA stated support for “promoting sustainable finance” but did not clearly support regulation on the financial sector to achieve this.
Position on Regulated Corporate ESG Disclosure: In 2022, CBA supported the Canadian Securities Authorities’ (CSAs) proposed climate disclosure requirements, advocating for increased ambition in Scope 1 and 2 disclosure requirements but asserting that Scope 3 should be required on a “comply or explain” basis for large issuers. In 2022 comments to the SEC, CBA outlined objections to the Commission’s draft climate disclosure rules, not supporting financial statement, scenario analysis, or transition plan disclosure requirements.
Position on Incorporating ESG Factors Into Risk Management/Prudential Regulation: In a 2022 briefing, CBA appeared supportive of Canada’s efforts to develop climate-related financial risk management guidelines.
Transparency: CBA has not provided a comprehensive disclosure of its sustainable finance policy positions and engagement activities. It has disclosed general membership but not board membership.