In September 2010, the Canadian Financial Executives Research Foundation (CFERF) issued a report on Carbon Management: Critical Issues For Strategic Finance. It covers a survey of senior finance executives from public and private companies and obtains insights through an executive research forum. The study revealed increased board participation in carbon management and reporting. The level of board involvement is reportedly higher in heavy-carbon emitting firms, where 25% reported that board involvement resulted in the development of a structured emissions management and reporting plan. The study also found that the statutory and regulatory actions taking shape in Canada have the potential to significantly impact the operations of Canadian organizations. In fact, 33% of heavy emitting companies surveyed said they expect the legislation to influence shareholders’ demands for improved carbon management and reporting. While the strategic impact of carbon use on the overall sustainability of organizations seems to be well established across the business community, 54% of public companies surveyed were not at all familiar with Ontario Securities Commission regulations that relate to carbon emissions.
