The Ontario Securities Commission (OSC) today published a staff notice following a targeted review of compliance with environmental reporting requirements by reporting issuers.

“Over the past several years, we have increasingly focused on the adequacy of disclosure of environmental matters in continuous disclosure documents,” says corporate finance director Margo Paul. “It is important that the information is meaningful so that investors can make informed investment decisions.”

OSC Staff Notice 51-716 Environmental Reporting summarizes key findings following a review of 35 Ontario-based reporting issuers. Overall, staff identified several areas of deficient disclosure. In particular, staff have identified staff have identified environmental liabilities and risks as areas of concern.

The notice provides guidance that reporting issuers should consider when discussing environmental matters in their continuous disclosure documents to ensure their disclosure is in compliance with securities legislation.

OSC staff will continue to monitor the disclosure of environmental matters as part of ongoing continuous disclosure reviews.