Mandate climate disclosures and rules
Petitioners ask the Government to require mandatory climate disclosures with net‑zero transition plans, establish an independent sustainable taxonomy excluding fossil‑fuel interests, and pass climate‑aligned financial regulation. The government responds it will support guidelines by 2026.
Why we would sign this petition
- It would force federally regulated firms to disclose climate risks and credible transition plans, helping markets price long‑term climate risk and reduce systemic financial vulnerability.
- An independent Canadian taxonomy would clarify which activities qualify as ‘green’ or ‘transition’, helping investors channel private capital to low‑carbon projects.
- Climate‑aligned financial rules could strengthen Canada’s long‑term economic resilience and competitiveness by aligning finance with net‑zero goals.
Why we wouldn’t sign this petition
- Mandatory requirements impose compliance costs and complexity for businesses and regulators, which may be burdensome for some federally regulated firms.
- Excluding fossil‑fuel interests from governance could be seen as biased and might omit practical expertise needed for realistic transition planning.
- Broad regulatory changes risk unintended market disruption; phased, collaborative approaches with provinces or industry could be more practical and less disruptive.
The summary and both sets of reasons are AI-generated from the petition and given equal weight. Claims are the petitioners’ own; consult the official record for the full text.
Official petition
Petition to the House of Commons in Parliament Assembled WHEREAS Climate change poses a systemic and existential threat to Canada's financial stability, and financial institutions must account for long-term climate risk in their decision-making; September 29, 2025 marks the ten-year anniversary of the "Tragedy of the Horizon" speech delivered by the current Prime Minister, then Governor of the Bank of England, which called for the integration of climate risk into the global financial system; The Government of Canada has made public commitments to advancing climate-related financial regulation, including in the 2025 Liberal Party platform and through the Canadian Net-Zero Emissions Accountability Act; Canada has not yet finalized key policies needed to ensure a competitive, climate-aligned financial sector capable of responding to escalating global economic, trade, and environmental risks; We, the undersigned, citizens and residents of Canada, call upon the House of Commons to urge the Government of Canada to: 1. Establish mandatory climate disclosure requirements for federally regulated companies, including financial institutions, that include credible net-zero Transition Plans; 2. Finalize and implement made-in-Canada sustainable investment guidelines through an independent governance body with equal representation from civil society climate experts and excluding fossil fuel interests; 3. Advance comprehensive climate-related financial regulations in line with the recommendations of the Enacting Climate Commitments Act (Bill S-243), which proposes the Climate-Aligned Finance Act, and is supported by parliamentarians through Motion M-84. These proposals, introduced during the 44th Parliament, aim to reduce systemic financial risk and enhance Canada's long-term economic resilience.
Government response
Response by the Minister of Finance and National Revenue Signed by The Honourable François-Philippe Champagne The Government of Canada thanks the petitioners for expressing their views about climate-aligned finance in Canada. Canada’s transition to net-zero emissions by 2050 will require substantial investment beyond the public sector. Private sector capital and expertise will be needed to meet Canada’s climate objectives and create a climate-resilient economy. Developing sustainable finance in Canada will promote long-term growth and stability of Canada’s financial system. It will also help mobilize private sector resources and investment to finance Canada’s transition to net-zero emissions by 2050. Budget 2025 reaffirmed the government’s commitment to building a climate-resilient economy and providing the market with the certainty and clarity it relies on. The Budget included commitments to: Support the arm’s length development of made-in-Canada sustainable investment guidelines by the end of 2026. Select and announce, by the end of 2025, an external organization with the expertise to develop the guidelines. Work with provinces and territories to improve climate disclosure across the economy. Explore the development of a Sustainable Bond Framework that would allow for the issuance of both green and transition bonds. Sustainable investment guidelines (also known as a taxonomy) are an important, voluntary tool for investors, lenders, and other stakeholders navigating the global race to net-zero by credibly identifying “green” and “transition” economic activities. These guidelines would help provide credibility, accountability, and transparency in the marketplace. These are essential conditions for investors and companies to fill the investment gap necessary to meet the climate challenge while seizing generational opportunities for clean prosperity. From generating clean energy to decarbonizing emissions-intensive heavy industries, these guidelines would identify job-creating activities in a way that is scientifically credible and aligned with limiting global temperature rise to 1.5°C above pre-industrial levels. Climate-related financial disclosures would help investors better understand how large businesses are thinking about and managing risks related to climate change, ensuring that capital allocation aligns with the realities of a net-zero economy. Climate disclosure requirements are in place for federal Crown corporations and federally regulated financial institutions. The federal government remains ready to work with provincial and territorial partners to ensure broad disclosure coverage across the Canadian economy. Since 2022, Canada has issued $15.5 billion in green bonds to help finance projects that reduce emissions, protect our environment, and foster more resilient communities in the face of climate change. The government is committed to regular green bond issuance. The government is considering how it will approach transition bonds, which could help unlock further capital to invest in Canada’s transition to net zero. The government will provide more information later for how it will proceed. Also, the Government of Canada is transitioning to net-zero emissions and climate-resilient operations, while also reducing environmental impacts beyond carbon, including reductions in waste and water use and improvements to biodiversity. The Greening Government Strategy is a Government of Canada Directive that specifies greening government commitments for government-owned buildings, government-owned fleet, government procurement, and climate resilience (adaptation). The Strategy was created in 2017 and updated in 2020 and 2024. The Strategy is consistent with the United Nations’ 2030 Agenda for Sustainable Development and the Federal Sustainable Development Strategy. Crown corporations are expected to align with the Strategy or adopt an equivalent set of commitments in each significant area of their operations, including the commitment to get to net-zero emissions by 2050 and to be climate-resilient.