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Canada Moves to Establish Sustainability Standards Board

June 15, 2022, 8:30 PM

Canada is creating a body to address sustainable accounting and audit standards amid growing demand from businesses and investors for guidelines to environmental, social, and governance issues, the country’s two main standards setters said Wednesday.

The new Canadian Sustainability Standards Board (CSSB) will be responsible for “ensuring that Canadian standards are relevant, responsive and fit for our country,” according to a statement from Lorraine Moore, chair of the Accounting Standards Oversight Council (AcSOC) and Kevin Nye, chair of the Auditing and Assurance Standards Oversight Council (AASOC).