| More Disclosure Of Environmental Risks | 06 March 08 |
 Canadian companies are inadequately reporting their environmental risks, according to the Ontario Securities Commission (OSC) report.OSC, Canada's biggest stock market regulator wants companies to include potential environmental costs and liabilities in financial statements. The OSC report examined environmental reporting by 35 companies and the detailed disclosures provided in financial statements and management reports. The review found most companies issue the same "boilerplate" information about environmental risks and do not meet reporting requirements. Many companies failed to measure how their bottom line could be affected. The OSC looked at the these reporting categories: environmental liability; the costs of closing assets (factories, mines etc), the financial cost to meeting environmental protection laws; and the cost of policies fundamental to operations, such as protecting water quality and preventing chemical spills. View February 27, 2008 Ontario Securities Commission release View February 29, 2008 Ontario Securities Commission Environmental Reporting (PDF) View February 28, 2008 Globe and Mail article View February 28, 2008 National Post article View February 27, 2008 Canwest News article Sources: Ontario Securities Commission, The Globe and Mail, National Post, Canwest News |
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