Recommendations to enhance corporate social reporting in Canada

York University’s Hennick Centre for Business and Law, together with Jantzi-Sustainalytics have issued a report on their Corporate Social Reporting Initiative. The report makes recommendations on how the Ontario Securities Commission (OSC) can begin to improve corporate disclosure of social practices. It addresses the reasons and scope for, and the regulation of, corporate social reporting which applies to areas such as human and labour rights, employee health and safety, local community development and product safety. It recommends that the OSC clarify existing disclosure obligations on the materiality of social issues to investors’ decisions and long-term corporate performance. It also recommends that the OSC facilitate continued dialogue among relevant stakeholders in order to support a shift toward more standardized metrics and reporting.