Reporting holds steady as Canada moves to revise anti-greenwashing rule

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illuminem summarises for you the essential news of the day. Read the full piece on Sustainable Views or enjoy below:

🗞️ Driving the news: Canada is revising its anti-greenwashing regulations as corporate sustainability reporting reaches a three-year high
• A new report by Millani, a Montreal-based advisory firm, reveals that while many Canadian companies have climate targets, over 70% made no changes to their sustainability goals, with some weakening their targets

🔭 The context: The surge in corporate sustainability reporting reflects a growing focus on transparency in response to investor demand for clearer environmental data
• However, experts warn that the lack of stringent regulations on greenwashing could undermine the effectiveness of these reports and erode investor confidence

🌍 Why it matters for the planet: Effective climate reporting is critical for ensuring that companies meet their sustainability targets and contribute to global emissions reduction goals
• Clearer and more enforceable disclosure rules will help mitigate the risk of companies misleading investors with inflated or vague climate promises

⏭️ What’s next: Canada’s efforts to revise its anti-greenwashing rules aim to improve the quality of sustainability disclosures
• Companies will need to align their actions with their climate commitments to ensure credibility and maintain investor trust

💬 One quote: "Recalibration, not retreat" — Millani report on Canadian corporate climate targets.

📈 One stat: More than 70% of Canadian companies with climate targets made no changes to their goals, according to the Millani report

See on illuminem's Data Hub™ the sustainability performance — carbon credit purchases, total emissions, and climate targets of thousands of companies

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