The Net Zero Challenge (NZC) is designed for both public and private sectors to achieve net-zero emissions by 2050. Led by the Government of Canada, the NZC encourages organizations across all industries to take steps towards reducing greenhouse gas emissions and addressing climate related issues. The Government of Canada has committed to reducing Canada’s emissions by 40-45% from 2005 levels by 2030, putting Canada on a path to reach net-zero emissions by 2050.
When Calian conducted our materiality assessment earlier this year, our stakeholders identified climate related risks and opportunities as one of our top 3 priorities. We are also seeing more of our clients considering a commitment to net-zero as part of their supply chain selection process.
On June 26th, the International Financial Reporting Standards (IFRS)/ International Sustainability Standards Board (ISSB), announced the first set of Sustainability Disclosure Standards, with the aim of creating a global baseline for sustainability reporting. In Canada, the Canadian Sustainability Standards Board (CSSB) has been formed to support the adoption of these standards. As a publicly traded company in Canada, we will eventually be required to adhere to new regulations including commitments to emissions reduction targets.
In first half of 2023, Calian completed a Taskforce on Climate-related Financial Disclosure (TCFD) gap analysis and developed a preliminary net-zero TCFD roadmap which will be published later this year. TCFD forms part of the new IFRS/ISSB standards and is also part of our NZC Milestone 1 submission. In 2024, we are planning to execute climate scenario analysis to establish a more refined net-zero roadmap with specific emission reduction targets and identification of key climate related risks and opportunities.
To view our listed commitment, click here.
To view our participation letter, click here.
If you have questions, please email [email protected]
