{"id":80584,"date":"2024-01-04T14:43:50","date_gmt":"2024-01-04T19:43:50","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=80584"},"modified":"2024-09-04T09:31:46","modified_gmt":"2024-09-04T13:31:46","slug":"how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/","title":{"rendered":"How Canadian businesses can leverage global ESG disclosure reporting \u2013 with insights from BDO Canada"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\">\n\t\t\t\t\t\t\t<span>Commercial Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">How Canadian businesses can leverage global ESG disclosure reporting \u2013 with insights from BDO Canada<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Stephanie Gilman<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Waterfall\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1471092754.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Canadian businesses can leverage global ESG disclosure reporting \u2013 with insights from BDO Canada &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published January 4, 2024 \u2022 7 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Companies across the globe have realized that integrating ESG principles into their core operations isn&#8217;t just the right thing to do for the future of our planet and people, but also a strategic move to meet the changing preferences of consumers and investors.<\/p>\n\n\n\n<p>As the world increases its focus on environmental and social risk management, Environmental, Social, and Governance (ESG) practices are taking center stage, transforming what are often viewed as trendy buzzwords into components of corporate strategy.<\/p>\n\n\n\n<p>Companies across the globe have realized that integrating ESG principles into their core operations isn&#8217;t just the right thing to do for the future of our planet and people, but also a strategic move to meet the changing preferences of consumers and investors.&nbsp;<a href=\"https:\/\/www.bdc.ca\/en\/articles-tools\/blog\/esg-canada-what-data-tells-us\" data-dig-id=\"LP-80584-d9a3287b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Canadian businesses are starting to recognize the necessity of ESG strategies\" class=\"rbc-link-format\">Canadian businesses are starting to recognize the necessity of ESG strategies<\/a>&nbsp;<a href=\"https:\/\/www.areadevelopment.com\/Canada-Investment-Guide\/Location-Canada-2023\/how-ESG-is-driving-canadian-government-programs.shtml\" data-dig-id=\"LP-80584-7f790921\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"to access government funding\" class=\"rbc-link-format\">to access government funding<\/a>&nbsp;and engage with a broader audience. And with this shift towards greater recognition of the value of ESG comes an increased&nbsp;<a href=\"https:\/\/corpgov.law.harvard.edu\/2023\/06\/29\/the-rise-of-international-esg-disclosure-standards\/\" data-dig-id=\"LP-80584-dfac9965\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"need for ESG disclosure\" class=\"rbc-link-format\">need for ESG disclosure<\/a>&nbsp;both internationally and here in Canada.<\/p>\n\n\n\n<p>To navigate this changing landscape, Canadian companies can look beyond our borders, drawing lessons from countries that have forged ahead in the ESG movement. RBC spoke with BDO Canada to find out how we can harness international expertise and apply it to the Canadian business scene.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"683\" width=\"1024\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?w=1024\" alt=\"Two professionals in office, one young female and one male, in formal clothing, dealing with finance, financial issues, investments, and market analysis. Image taken from above - overhead image, representing teamwork and collaboration, brainstorming and progressive innovative work.\" class=\"wp-image-80588\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg 2119w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?resize=1536,1025 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-692021788.jpg?resize=2048,1367 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><a><\/a>Increased demand for ESG disclosure<\/h2>\n\n\n\n<p>The global demand for ESG disclosure has been driven by&nbsp;<a href=\"https:\/\/www.statista.com\/statistics\/1350989\/esg-disclosure-investor-demand\/\" data-dig-id=\"LP-80584-45e8369d\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"investor demand\" class=\"rbc-link-format\">investor demand<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/corpgov.law.harvard.edu\/2023\/06\/29\/the-rise-of-international-esg-disclosure-standards\/\" data-dig-id=\"LP-80584-6749702c\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"regulatory requirements\" class=\"rbc-link-format\">regulatory requirements<\/a>, but as Alison Joutsi, Vice President of Sustainability &amp; ESG at BDO Canada points out, data suggests that organizations that manage sustainability risks and opportunities perform better in the long run.<\/p>\n\n\n\n<p>\u201cESG practices are now being implemented by organizations to comply with upcoming regulatory requirements, but also to attract talent and appeal to a new stakeholder demographic,&#8221; she says. \u201cWe&#8217;re moving from a value perspective lens just for shareholders, to value creation for all stakeholders.&#8221;<\/p>\n\n\n\n<p>With that in mind, disclosure is more important than ever before, offering transparency into a company&#8217;s social and environmental efforts for customers, employees, and shareholders. However global standardization is a challenge, and with multiple frameworks being used in different jurisdictions, Joutsi notes that it&#8217;s tough for investors to compare apples to apples.<\/p>\n\n\n\n<p>\u201cWe don&#8217;t necessarily need regulations to be completely uniform across countries,&#8221; she says. \u201cBut some level of consistency is important to attract certain businesses to a country.&#8221;<\/p>\n\n\n\n<p>To address the issue, the International Financial Reporting Standards (IRFS) Foundation created the&nbsp;<a href=\"https:\/\/www.iasplus.com\/en\/resources\/ifrsf\/issb\" data-dig-id=\"LP-80584-2638f390\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"International Sustainability Standards Board (ISSB)\" class=\"rbc-link-format\">International Sustainability Standards Board (ISSB)<\/a>&nbsp;to develop a global baseline of sustainability disclosure standards. With the ISSB Standards endorsed by the International Organization of Securities Commissions (IOSCO), many jurisdictions are preemptively developing their strategies for enforcing these standards.<\/p>\n\n\n\n<p>But should there be uniformity in ESG regulations from country to country for real change to happen? The answer is a nuanced one. While uniformity can be helpful in creating a level playing field, it&#8217;s not always practical.<\/p>\n\n\n\n<p>Stephen Miller, Manager of Grants and Incentives at BDO Canada, notes that as much as there are lessons to be learned from other jurisdictions, there&#8217;s no one-size-fits-all approach to ESG disclosure.<\/p>\n\n\n\n<p>\u201cDifferent countries have different cultures as well as types of institutions, industries, and social environments,&#8221; Miller says. \u201cYou have to consider the particular challenges at both an organizational level and broader country level.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"615\" width=\"1024\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?w=1024\" alt=\"A young woman, wearing glasses, surrounded by computer monitors in a dark office. In front of her there is a see-through displaying showing a map of the world with some data.\" class=\"wp-image-80587\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg 2233w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?resize=300,180 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?resize=768,462 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?resize=1024,615 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?resize=1536,923 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1299152059.jpg?resize=2048,1231 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><a><\/a>Global trends in ESG reporting<\/h2>\n\n\n\n<p>Despite efforts to harmonize disclosure requirements, ESG regulations still vary widely from country to country. And where some nations are at the forefront of the ESG journey, others are still finding their footing.<\/p>\n\n\n\n<p>Among the leaders, Europe stands out with its progressive regulations, and as Joutsi and Miller note, the EU is often a good indicator of what other countries might do.<\/p>\n\n\n\n<p>The EU recently implemented its&nbsp;<a href=\"https:\/\/finance.ec.europa.eu\/capital-markets-union-and-financial-markets\/company-reporting-and-auditing\/company-reporting\/corporate-sustainability-reporting_en\" data-dig-id=\"LP-80584-7213ad00\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Corporate Sustainability Reporting Directive (CSRD)\" class=\"rbc-link-format\">Corporate Sustainability Reporting Directive (CSRD)<\/a>, which mandates ESG reporting for companies that meet specific criteria. This was followed by the&nbsp;<a href=\"https:\/\/finance.ec.europa.eu\/news\/commission-adopts-european-sustainability-reporting-standards-2023-07-31_en\" data-dig-id=\"LP-80584-208f04d3\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"European Sustainability Reporting Standards (ESRS)\" class=\"rbc-link-format\">European Sustainability Reporting Standards (ESRS)<\/a>&nbsp;which outline the specific reporting requirements that these companies must adhere to. The standards cover key ESG issues like climate change, biodiversity, and human rights.<\/p>\n\n\n\n<p>The United States takes a more fragmented approach, with&nbsp;<a href=\"https:\/\/www.morganlewis.com\/pubs\/2023\/07\/esg-investing-regulations-across-the-50-states\" data-dig-id=\"LP-80584-d3bd08f7\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"various states\" class=\"rbc-link-format\">various states<\/a>&nbsp;and the&nbsp;<a href=\"https:\/\/www.sec.gov\/securities-topics\/climate-esg\" data-dig-id=\"LP-80584-24827586\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Securities and Exchange Commission&nbsp;(SEC)\" class=\"rbc-link-format\">Securities and Exchange Commission&nbsp;(SEC)<\/a> driving ESG initiatives. While there isn&#8217;t an equivalent to the CSRD, US businesses are motivated to engage with ESG because of recent legislative and spending initiatives, including the Biden administration&#8217;s&nbsp;<a href=\"https:\/\/www.bdo.com\/insights\/tax\/esg-and-the-inflation-reduction-act-of-2022\" data-dig-id=\"LP-80584-a557cff9\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Inflation Reduction Act\" class=\"rbc-link-format\">Inflation Reduction Act<\/a>.<\/p>\n\n\n\n<p>But Miller notes that even with guidance from governing bodies, there is a lack of tangible government support for transitioning to ESG disclosure.<\/p>\n\n\n\n<p>Although the European Sustainability Reporting Standards (ESRS) provide businesses with a structured reporting and disclosure framework, \u201cThe European Commission won&#8217;t handhold businesses and walk them through what they need to do to meet reporting requirements,&#8221; he says. \u201cAnd in the U.S., the onus is on businesses to navigate the requirements of their jurisdiction as well as engage with government incentives. They have to do their homework.&#8221;<\/p>\n\n\n\n<p>While Canada isn&#8217;t at the forefront of ESG regulations, it&#8217;s making progress, and Canadian regulators may look to Europe and the U.S. when considering the types of regulations relevant to Canada. And, as Joutsi emphasizes, Canadian businesses should take inspiration from global jurisdictions leading the way.<\/p>\n\n\n\n<p>\u201cYou need to consider how you&#8217;ll collect your data and ensure it&#8217;s auditable,&#8221; she says, noting that the EU has assurance requirements, starting with limited assurance, with a transition to reasonable in the coming years. \u201cForward-thinking business leaders in Canada can look at what European companies are doing and gradually start incorporating those principles into their business.&#8221;<\/p>\n\n\n\n<p>Joutsi stresses that businesses should take a proactive approach and begin thinking through their governance strategies sooner rather than later.<\/p>\n\n\n\n<p>\u201cYou can start by quantifying your carbon footprint right now,&#8221; she says. \u201cYou don&#8217;t want to wait for regulation to come into effect to start speaking to your stakeholders and collect the data you&#8217;ll need for reporting. If organizations wait for regulation, it will take too long to collect the required information needed.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"576\" width=\"1024\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?w=1024\" alt=\"The green world is in the book There is a judging hammer behind it. \" class=\"wp-image-80586\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg 2309w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?resize=300,169 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?resize=768,432 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?resize=1024,576 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?resize=1536,864 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/12\/iStock-1482810339.jpg?resize=2048,1152 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><a><\/a>Staying ahead of the curve with ESG integration<\/h2>\n\n\n\n<p>With the Canadian government recently introducing new&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/what-businesses-need-to-know-about-implementing-esg-strategies-in-2023-with-insights-from-bdo-canada\/\" data-dig-id=\"LP-80584-84c2e30b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"incentives to encourage ESG practices\" class=\"rbc-link-format\">incentives to encourage ESG practices<\/a>, Miller urges businesses to get ahead of the curve and engage with ESG now.<\/p>\n\n\n\n<p>\u201cWhat we&#8217;re seeing is that many government support mechanisms are heavily subscribed, and if you&#8217;re a business looking to benefit from them, you&#8217;re going to have to move fast,&#8221; he says.<\/p>\n\n\n\n<p>And as Miller points out, businesses in many sectors can benefit, not just those in traditionally carbon-intensive industries like energy and transportation.<\/p>\n\n\n\n<p>When regulations do come through in Canada, Miller says that even for organizations and businesses that are not legally mandated to comply, it&#8217;s still worth the effort to include ESG elements in your project planning.<\/p>\n\n\n\n<p>\u201cThis approach can unlock doors and be a differentiator,&#8221; he says. \u201cYou&#8217;ll have a stronger case for government support, and you might find that the profitability of a project is improved by integrating ESG.&#8221;<\/p>\n\n\n\n<p>With jurisdictions around the world adopting ESG standards and regulations, and Canada expected to follow suit, Canadian businesses should take the time to consider integrating their ESG strategy into their overall business strategy.<\/p>\n\n\n\n<p>\u201cIf you look down the road, the trend is towards a stronger ESG policy here in Canada,&#8221; Miller says. \u201cSo there&#8217;s both a challenge and opportunity for businesses.&#8221;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-50c0d714-a27f-4287-bb38-af6434032a17\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Canadian businesses can leverage global ESG disclosure reporting \u2013 with insights from BDO Canada &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-943b6c09-a778-4361-8279-dbaab88b67f4\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Commercial Insights<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/esg\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">ESG<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A pile of clothes and textiles ready for sortation. 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Outcomes<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-50c0d714-a27f-4287-bb38-af6434032a17 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-50c0d714-a27f-4287-bb38-af6434032a17 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-943b6c09-a778-4361-8279-dbaab88b67f4 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-943b6c09-a778-4361-8279-dbaab88b67f4 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Canadian companies can look beyond our borders to draw lessons from countries that have forged ahead in the ESG movement.<\/p>\n","protected":false},"author":80,"featured_media":80585,"parent":57338,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[574,65],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[70],"rbc_mmm_category":[305,391,326],"class_list":["post-80584","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-commercial-insights","tag-esg","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-intermediate","rbc_mmm_category-business","rbc_mmm_category-commercial","rbc_mmm_category-right-sized-business-advice"],"acf":{"contently_publication_id":"376595","custom_author":"Stephanie Gilman","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Canadian companies can look beyond our borders to draw lessons from countries that have forged ahead in the ESG movement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canadian-businesses-can-leverage-global-esg-disclosure-reporting-with-insights-from-bdo-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" 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