Fasken Benchmark ESG Survey Reveals Key Trends For Corporate Decision-Makers

Published on:
by KnowESG

Fasken has published a thorough analysis of how Canadian public companies have addressed Environmental, Social, and Governance issues, serving as a reference for corporate decision-makers negotiating an array of increasingly complex ESG challenges.

Based on information from more than 80 of Canada's biggest public companies, the "Fasken 2023 ESG Disclosure Study" gives a lot of new data and insights about the ESG practices of Canada's businesses.

Some key topics of the survey are:

  • Governance of ESG Issues: How are companies approaching oversight of environmental and social issues? Plus, an assessment of whether directors have ESG-related expertise and whether ESG-based metrics are linked with executive compensation.

  • ESG Disclosure: A look at where companies share information about ESG and what reporting frameworks they use. The study also examines whether public issuers are obtaining third-party assurances for ESG-related disclosure and the nature of that assurance.

  • E’ and ‘S’ Goals and Targets: Are public companies setting, and reporting on, environmental and social goals and targets? An overview of the “E” and “S” matters that are the subject of such objectives, particularly noting goals and targets relating to reducing greenhouse gas emissions.

  • Shareholder Proposals: A consideration of the types of ESG-related shareholder proposals and their results.

  • Social Issues: The central social matters that public issuers are considering.

  • Forward-Looking Information: An outline of the range of approaches taken by public issuers toward disclosure around their greenhouse gas emission targets in relation to forward-looking information disclosure.

The survey highlights six key trends to watch in the new year:

  • More ESG regulation worldwide

  • Increased shareholder engagement on ESG-related issues

  • Greater demands for third-party assurance of companies’ ESG data

  • Moves to ensure transparency around methodologies used by ESG ratings providers

  • Additional ESG issues taking centre stage (cybersecurity, human rights due diligence, biodiversity)

  • Sharper focus on Indigenous reconciliation plans

"Companies and their boards will need to keep looking at ESG issues through the lens of risks, regulatory obligations, and opportunities that apply to their company," the authors say. Increasingly, companies and boards may be expected to articulate their view of these assessments clearly.”

For more social and governance news

Source: Fasken 

Click here to read the complete study.

Learn more about Fasken's ESG & Sustainability here.


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