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Discover all the articles written by the professionals of Mazars in Canada.
Advancing climate scenario analysis capabilities
On 10 September 2024, the Office of the Superintendent of Financial Institutions (OSFI) issued final versions of Standardized Climate Scenario Exercise (SCSE) methodology, workbook, instructions and questionnaire. The SCSE is designed to be foundational to help Financial Institutions (FIs) better understand potential impacts of climate-related risks and increase their capabilities around managing these risks. The exercise applies to all federally regulated FIs, except foreign branches. OSFI is working with the Autorité des marchés financiers (AMF) in Quebec, who will run also the SCSE for FIs they regulate.
Responding to CSSB’s consultation on its sustainability disclosure standards
The Canadian Sustainability Standards Board (CSSB) recently consulted on exposure drafts of its draft Canadian Sustainability Disclosure Standards (CSDS). The CSSB used as a baseline the first two IFRS S1 and S2 sustainability disclosure standards released by the International Sustainability Standards Board (ISSB).
Getting ready for OSFI’s Standardized Climate Scenario Exercise (SCSE)
Climate-related financial disclosures of Canadian financial institutions
Climate change poses a significant risk to financial institutions’ business model, strategy and overall performance. It also presents substantial opportunities for financial institutions given the key role they play in facilitating the smooth transition to a greener and more sustainable economy.
Mitigating greenwashing in investment products
With financial institutions looking to tap into the vast amounts seeking sustainable investments, there is an increasing likelihood of misrepresenting sustainability criteria, strategy, objective, and impact of the investment products. This misrepresentation can lead to poor outcomes for investors and even ultimately weaken the transition to a more sustainable world.
The Importance of Documentation in the Context of Obtaining Government Tax Credits or Incentives
The federal and provincial governments, in Québec among others, offer assistance programs in the form of credits or other incentives, for example, for innovation or scientific research and experimental development (SR&ED). These credits or incentives aim to support innovation efforts of numerous corporations operating in different business sectors.
Three simple steps to kickstart your sustainability strategy
Executing a business sustainability strategy is more important than ever and is essential for the long-term success of a company.
Not only does it help in the development of your business vision and strategy, but a sustainability strategy will also help to reduce unnecessary costs through the implementation of leaner and smarter processes.
Not only does it help in the development of your business vision and strategy, but a sustainability strategy will also help to reduce unnecessary costs through the implementation of leaner and smarter processes.
Getting smart about business planning and performance management
Running a business comes with many demands, big and small, and requires focus and attention on various areas. As a result, focus can be heavily placed on the day to day tasks while the long-term planning is pushed to the side.
Getting the digital-cultural balance right
Digital and technological advances have brought great benefits to businesses worldwide. Through digital innovation, we have experienced increased customer communication and reach, artificial intelligence, development of new solutions and systems as well as being able to collect copious amounts of valuable data through various algorithms that help drive business direction.
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