Canada’s clean energy future: Clean hydrogen tax credit recent developments
Canada continues to work toward a sustainable, low-carbon economy, using tax incentives to encourage investment in clean energy infrastructure. In the 2022 Federal Budget, the government announced that it would engage experts to establish investment tax credits (“ITCs”) focused on […]
Greenwashing in Canada: Enforcement and trends for 2023
Over the last several years, increasing demand from consumers for environmentally-friendly products and services has led to an increase in “greenwashing,” which involves the practice of conveying false, misleading, incomplete, or unsubstantiated information to consumers about a product or business’ […]
The intersection of blockchain technology and carbon markets
Welcome back to our Carbon Finance Series! We are thrilled to present the latest edition to our collection of articles, which examines how blockchain’s transparency, efficiency and decentralization may be able to drive meaningful impact in advancing global efforts to […]
Private equity and the ESG advantage: Addressing risks and opportunities in M&A
As private equity funds (PE funds) face increased scrutiny for their environmental, social, and governance (ESG) practices, it is increasingly important for PE funds to consider ESG factors in their investment decisions and operation of portfolio companies. This article discusses […]
Driving down Canada’s transportation emissions: Federal Clean Fuel Regulations now in force
Canada’s long-awaited Clean Fuel Regulations (CFR, under the Canadian Environmental Protection Act, 1999) came into force on July 1, 2023. Efforts to develop a national clean fuel standard began in 2016, the objective of which is to incentivize the adoption […]
ESG update: Appetite for enhanced climate and diversity disclosure gaining steam in Canadian capital markets
Introduction Earlier this year, Miller Thomson published an article that examined notable environmental, social and governance (“ESG”) disclosure requirements mandated by securities regulators and encouraged by proxy advisory firms.[1] Subsequently, there have been significant developments pertaining to board diversity and environmental […]
Proposed changes to the Oil, Gas and Salt Resources Act: Carbon capture, utilization and storage
We previously produced a Practical Primer on Carbon Capture for Business and we continue to actively monitor developments in the regulatory environment relating to carbon capture use and sequestration. In that light, we note the following proposed changes to the […]
The right to a healthy environment recognized in federal Canadian law
Last week, amendments to the Canadian Environmental Protection Act, 1999 (“CEPA” or the “Act”) were passed by the House of Commons which, amongst other things, update the Act to recognize the right to a healthy environment. In April 2021, Minister […]
Where business and nature intersect: TNFD releases final draft of Nature-Related Risk Management and Disclosure Framework
In December 2022, the Parties to the UN Convention on Biodiversity (COP 15) met in Montréal to advance global action to address the ongoing loss of biodiversity. This meeting culminated in the adoption of the Kunming-Montreal Biodiversity Framework (the Global […]
Sustainable finance: A panel discussion and key considerations
As net zero goes mainstream, sustainable finance is being increasingly recognized for its critical role in supporting the actions needed to transition towards a low-carbon economy and to preserve, maintain and restore biodiversity. The amount of capital needed by both […]
OSFI’s Guideline B-15 on climate risk management is now in effect
As part of the growing global regulatory focus on addressing risks to financial institutions presented by evolving issues like climate change, the Office of the Superintendent of Financial Institutions (“OSFI”) issued draft Guideline B-15: Climate Risk Management (the “Draft”) in […]
Quality is the name of the game: The quest for high-integrity carbon credits in a low-carbon world
Carbon offsetting finds its origins in the late 1980s in an agroforestry project in Guatemala. In the world’s first documented carbon offset project, Applied Energy Services (AES) was looking to mitigate the emissions of a 183 megawatt coal-fired power plant […]
Mathur et al: Youth climate litigation against Ontario government found to be justiciable but dismissed for failing to establish charter violations
On April 14, 2023, the Ontario Superior Court (the “ONSC”) released its highly-anticipated decision in Mathur et al v His Majesty the King in Right of Ontario [Mathur et al] in which it held that, although the Application raised justiciable […]
Tackling privacy and cybersecurity challenges as critical parts of ESG success
Privacy and cybersecurity have evolved to take on major socio-political implications in recent years. Cybersecurity is currently one of the most serious enterprise risks facing Canadian businesses. It is also one of the greatest threats to national security and global […]
Incorporating ESG practices and principles in loan transactions
Over the past number of years, there has been a growing emphasis on and push to incorporate Environmental, Social and Governance (“ESG”) principles in lending practices. Conducting business in a sustainable, socially-conscious way may allow lenders to improve their financial […]
Challenges in developing the hydrogen industry: More than hot air – Part 1
With more news and discussion every day on the threat of climate change and the need for society to transition from carbon-emitting fossil fuels to cleaner, renewable energy, most attention has been focused on the same solutions for several years: […]
ESG at stake – Miller Thomson’s PDAC seminar
Mining companies have an opportunity to play a leading role on developing approaches to respond to the complex challenges of climate change, the loss of nature capital and other sustainability variables. Read our top 10 considerations for mining companies and […]
Public company directors and ESG disclosure requirements
In recent years, boards of directors of reporting issuers are becoming increasingly aware of the environmental, social and governance (“ESG”) disclosure requirements imposed by regulators. Within the current landscape, Canadian companies must work to balance their operational needs with environmentally […]
Carbon finance series: Canada’s voluntary carbon market (VCM)
We are back with the next installment in our carbon finance series. In our last article, we discussed the key carbon pricing regimes across Canadian provinces. This article will provide an overview of some salient aspects of the voluntary carbon […]
Best practice for managing ESG in the boardroom
Investors and stakeholders increasingly understand that long-term success is directly affected by how a company and its board of directors (the “Board”) manage environmental, social and governance (“ESG”) factors. Best practices require that a Board establish and implement a framework […]
Introducing MT Biosphere™: The Communiqué of Miller Thomson’s ESG and Carbon Finance Group
We are pleased to announce the launch of our communiqué, MT Biosphere™, published by Miller Thomson’s ESG and Carbon Finance Group. The name of our communiqué reflects the three elements behind the ESG acronym: environment, social, and governance. Throughout the […]
Hey Canadian issuers, your neighbour is up to something: Disclosure of climate-related matters
On March 21, 2022, the United States Securities and Exchange Commission (the “SEC”) published its proposed climate-related disclosure rules – The Enhancement and Standardization of Climate-Related Disclosures for Investors (PDF) (the “SEC Rules”) – which, if adopted, would require public companies and […]
Will the new International Sustainability Standards Board succeed in unifying global sustainability and climate-related disclosure rules?
Sustainability and climate disclosure rules are about to be standardized On March 31, 2022, the International Sustainability Standards Board (“ISSB”), a recently formed sustainability standard-setting body of the International Financial Reporting Standards (“IFRS”) Foundation, published for public comment two exposure […]
Is carbon capture a game changer for Canada’s climate change strategy: A practical primer for business
Introduction In 2020, Canada produced over half a billion tonnes of carbon dioxide (CO2) emissions from fossil fuels and industrial operations. The next year, the Canadian legislature passed the Canadian Net-Zero Emissions Accountability Act, which legally enshrined Canada’s commitment to […]
