In today's values-driven world, organizations must focus on their environmental, social and governance (ESG) performance to attract talent, customers and investment. Public opinion surveys consistently show that three out of four Canadians will boycott products or services that are not in alignment with their values and will consider a company's environmental and social commitments before deciding where to work. These percentages are even greater for millennials and younger Canadians.While statistics like these make ESG reporting “table stakes” for business and investors, citizens also expect their governments to improve ESG performance. In Canada, our federal government has prioritized sustainability and values-driven initiatives. Accordingly, ESG data reporting is crucial to measure the progress of operations, policies, and commitments. ESG is often seen through the lens of economic trade-offs, so being able to show ESG's benefits with accessible and meaningful data will build citizen trust and increase innovation and adoption of ESG practices and policies.The Government of Canada has prioritized these ESG commitments:
- Science-based emissions-reduction plans to achieve net zero by 2050;
- Achieving zero plastic waste by 2030;
- Upgrading its green procurement policy to integrate environmental considerations into procurement activities;
- A focus on Indigenous reconciliation, programs to promote gender parity on corporate boards and funding programs for promotion of anti-racism and social development; and,
- Numerous federal and provincial internal initiatives and directives for inclusion and diversity such as Ontario's social reporting requirement for pension plan administrators and Alberta's guidance on hiring diverse workforces.