TORONTO: Executives at Canadian companies are more likely say going green is good business than their global counterparts, according to the 13th annual Global CEO Survey by PricewaterhouseCoopers LLP (PwC).
- 79% of Canadian CEOs indicated their investment in climate change was either unaffected or increased during the recession—only 21% delayed or reduced their investment as a result of the recession
- Nearly 70% of CEOs will focus on preparing for the impacts of climate change initiatives in 2010, which is notably higher than CEOs globally (61%).
- Canadian CEOs are more likely to believe that consumers place a higher emphasis on a company’s environmental and corporate responsibility before making a purchase. Thus, 93% of Canadian CEOs plan to change environmental and corporate responsibility strategies.
- 73% of Canadian CEOs support social and environmental sustainability regulations. Only 5% of CEOs in Canada indicated they want less regulation.
Adopting viable climate change strategies will play an important role in scoring high marks from investors and consumers, leading the market and managing changes in climate change regulations.
“Heightened public concern and tougher environmental regulations have made climate change an increasing priority for today’s business leaders,” says Dr. Christine Schuh, associate partner and national leader of Climate Change Services group at PwC. “Higher costs for energy and regulatory compliance, loss of investor confidence and consumer loyalty pose significant threats to those without climate change business strategies in place.”
PwC’s recent report on federal and provincial climate change reporting regulations indicates that different jurisdictions are taking distinctive approaches to regulatory requirements. The Federal Government recently updated the Facility GHG Reporting Regulations to lower the reporting threshold for organizations from 100,000 tonnes CO(2)e to 50,000 tonnes CO(2)e, and split two reporting categories used in previous years’ reporting (i.e. venting and flaring, and wastewater) into separate categories.
Provincially, British Columbia, Ontario, Manitoba and Quebec have joined the Western Climate Initiative (WCI), a collaboration of independent jurisdictions working to tackle climate change at a regional level. The WCI in both Canada and the US are recommending a broad cap-and-trade program to reduce GHG emissions by 15% below 2005 levels by 2020.