FINAL REPORT of the - EXPERT PANEL on SUSTAINABLE FINANCE

Recognizing the opportunity, Canada’s Minister of Environment and Climate Change and Minister of Finance jointly appointed the Expert Panel on Sustainable Finance in April 2018 to explore opportunities and challenges facing Canada in this field, and to present the Government with a set of recommendations to scale and align sustainable finance with our country’s climate and economic goals. [...] 14 Examples of key spokes include: the Intact Centre on Climate Adaptation; Ouranos; the Centre for Global Change Science; the Vector Institute; the Geneva Association; the Canadian Institute of Actuaries; the Pacific Climate Impacts Consortium; the Prairie Climate Centre; Environment and Climate Change Canada; the Bank of Canada; OSFI; and official sector data sources such as the National Energy. [...] 27 Industry collaboration to advance the development and integration of physical and transition climate risk modeling and stress testing is beginning to ramp up, with active efforts at institutions such as the Geneva Association, the Insurance Bureau of Canada and the Network for Greening the Financial System, among many others. [...] The world’s central banks and financial regulators are in the early stages of investigating the implications of climate change for the economy and the financial system. [...] In making the following recommendations, the Panel points to the first comprehensive report of the NGFS and its planned initiatives as a useful and authoritative source of direction and context.