Canada's ESG Future
Investor demands for greater insight into sustainability performance are pushing businesses to report on metrics beyond the bottom line - creating a pressing need for a system to hold them accountable. “It’s no longer just about the bottom line,” says Pamela Steer, President and CEO of CPA Canada. “There’s an expectation for organizations to take accountability for their impact on society and the environment.”
Accordingly, the need for sustainability reporting is higher than ever — and chartered professional accountants (CPAs) will have a key role to play.
Global standards are here
Sustainability reporting encourages business leaders to embrace responsible, sustainable practices within their organizations. However, a lack of a clear global baseline for reporting has left the space cluttered with various ways to report risks, metrics, and targets. “Right now, sustainability reporting is often hit and miss — and, worse, potentially misleading due to the multitude of voluntary frameworks,” explains Steer.
Earlier this week, the International Sustainability Standards Board (ISSB) published two disclosure standards — General requirements for Disclosure of Sustainability-related
information (IFRS S1) and Climate-related Disclosures (IFRS S2). The release is a major step in creating a framework that requires the global business community to disclose material information on exposure to sustainability and climate-related risks and opportunities. The Canadian Sustainability Standards Board will work closely with the ISSB to develop and facilitate the adoption of IFRS Sustainability Disclosure Standards for the Canadian marketplace and ensure that the Canadian perspective is part of international standard-setting decisions.
Now is the time to build capacity in this space to react to changes in market demands as new roles and opportunities are established. The education and training needs for sustainability reporting and assurance are greater than the current capacity to deliver.
CPA Canada is a designated Capacity Building Partner of the ISSB and will continue to support the effective implementation of upcoming standards.
CPAs: Holding business accountable CPAs play a critical role in the capital markets, ensuring organizations report relevant and trustworthy information. This responsibility is now extending to sustainability standards. “CPAs bring a host of valuable skills to the table when it comes to successful
decision-making in a world overloaded with data,” says Steer. “In fact, our profession has a proven history of providing the analysis, reporting, and assurance necessary to evaluate performance and manage risk. Now, we can apply those skills to help tackle some of the most pressing issues of our time.”
Pamela Steer President & CEO, CPA Canada
How Electronics Recycling Helps Companies Achieve ESG
Goals
If your company has some older, unused electronics, you can dispose of them safely and responsibly through the Electronic Recycling Association.
Anne Papmehl
Computers and other electronics are essential to modern life, but what happens to these devices when they’re no longer needed? Many get discarded and sent to the landfill as electronic or e-waste.
E-waste is a growing environmental concern. The Global E-Waste Monitor 2020 reports that the world dumped a record 53.6 million tons of e-waste and predicts a rise to 81 tons by 2030. Electronics contain materials like mercury and lead which can contaminate the air, soil, and groundwater. They also require lots of resources to produce. The manufacture of one single computer and monitor, for example, uses about 500 pounds of fossil fuels, 1.5 tons of water, and 50 pounds of chemicals.
Considering some companies upgrade their electronics as often as every one to two years and an estimated 50 per cent to 70 per cent of consumers stockpile their devices after replacing them, that’s a lot of unused electronics. At the same time, thousands of Canadians lack access to a computer.
An innovative way to divert e-waste while achieving social benefit
The Electronic Recycling Association (ERA) offers an innovative alternative to discarding or stockpiling these unwanted devices. The ERA is a not-for-profit that was established in 2004 to address the twin problems of e-waste and the growing digital divide. For over 19 years, the ERA has been working with electronics recyclers in Canada and the U.S. to give these retired electronic devices new life by refurbishing and then donating them to charities, organizations, and individuals in need.
The ERA accepts just about anything individuals and companies are willing to part with. That includes not just old desktops and laptops, but smart phones, cell phones, software, printers, keyboards and other peripherals, and even video conferencing equipment.
Creating environmental change through reuse and recycling program
As a non-profit organization with deep community roots, ERA’s “reuse” focus and donation activities is what sets it apart from others in this sector.
The ERA believes that reuse before recycling is the most ecological approach to managing waste created by computer hardware and an excellent way to compel community good will. By turning retired electronic and IT equipment into usable assets, the ERA isn’t only diverting huge amounts
of electronics from the waste stream, it’s also helping to foster digital inclusion for all.
The ERA offers corporations and municipalities a chance to reduce their own e-waste and support ERA’s mission by reaching out to them when it’s time to renew their IT devices and retire their old ones. Free pick-up services and drop-off depots across seven Canadian cities make this easy and convenient to do.
The ERA believes that reuse before recycling is the most ecological approach to managing waste created by computer hardware and an excellent way to compel community good will.
What about data safety? It’s understandable that fear of data being discovered might cause some reluctance on the donor’s part. However, secure hard drive destruction and data erasure is one of ERA’s core service offerings, and it can even be done at the donor’s site.
Once the assets are received, the ERA will determine its remainder of the asset’s life and whether it can be repurposed. If so, the items are refurbished for donation to charities and other groups in need, such as small businesses, educational facilities, and charities. Equipment that’s deemed to have reached the end of its productive life is sent to certified recycling organizations for processing.
“We’re proud to provide charities, non-profits, schools, and care facilities all across Canada with the computers they require for their programs. This gives them access to reliable technology while allowing them to apply their resources to what they’re good at, developing programs to help Canadians struggling with poverty, health concerns, or are otherwise experiencing misfortune,” said Bojan Paduh, Founder and CEO of ERA.
Operating in this manner, ERA has repurposed hundreds of tons of equipment and continuously supplied charitable groups across Canada with donated IT equipment.
creating positive social change
One of those recipients is the Calgary United Way. The ERA, working with its long-standing donor Shell Canada, donated 75 refurbished laptops, a much-needed upgrade to the devices that were previously in use as they would allow the staff to work more efficiently from home during the pandemic.
Shell Canada also teamed up with ERA teamed up to donate one million dollars-worth of computers to 12 groups across Canada including the Chiila Elementary School on the Tsuu t’ina Nation. According to the school’s principal, the computers are expected to not only enhance the students’ computer skills but also digitally preserve their culture. These high-end computers that were left unused and destined for the landfill after Shell divested its oilsands operations. Two Shell employees who wanted to make change and give back to the community reached out to the ERA, which securely wiped the machines and installed new operating systems before distributing them.
Another community partner ERA worked with was the Alberta Securities Commission to donate 90 smart phones to two local Calgary non-profits. 80 devices were provided to clients of the Canadian National Institute for the Blind (CNIB). For people with sight loss, the shift from a high touch environment to a virtual no-touch world during the pandemic made technology more important than ever. Smartphone apps allowed them to stay connected with loved ones while socially distancing, access virtual programming for continued education, and navigate their world safety and independently. Additionally, 10 iPhones were given to the Brenda Strafford Centre which supports people who have experienced family violence. For them, a cell phone isn’t just a convenience, it’s a lifeline to ensure they can stay safe and connected to vital services to help them exit abusive homes.
Make the ERA your go-to organization
With environmental, social, and governance (ESG) reporting now becoming mandatory in Canada, partnering with the ERA offers a great opportunity to demonstrate your environmental and social best practices. Let ERA be your go-to organization for reaching
25th Annual Corporate Governance Conference
Good Governance Leads the Way: Strategies and Solutions for Effective and Ethical Organizations
The two-day event will feature expert panels, breakout sessions, and exciting opportunities to learn about the evolving corporate governance environment in Canada and internationally.
Some of the session topics for 2023 include:
• A review of Recent Governance reports: What Should Boards of the Future Prioritize?
• The Five Board Archetypes: Boardroom Evolution from Enron through COVID-19
• Stakeholder engagement and corporate governance: Pitfalls and must-do’s
• Cybersecurity and the Role of the Board: Interactive Board Cyber Incident Simulation
• Beyond EDI: A Focus on Human Capital Issues
• Crafting an Effective Board Agenda: Setting the Tone
• The Rise of New Tech: Real-Time Reporting and AI, Oh My!
• Setting the Stage for Board Diversity: What to know and what to do before you recruit
• New CEOs: A Unique Opportunity for the Corporate Secretary to Shine
• Board Assessment – Preparing and Implementing the Next generation of Board Oversight…and more!!!
