Canadian Securities Regulators Publish Additional Guidance on Environmental
Disclosure

TORONTO, Oct. 27 /CNW/ - The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-333 Environmental Reporting Guidance for reporting issuers about meeting existing environmental disclosure requirements.

The Notice should assist issuers in assessing which information must be disclosed on material environmental matters, such as risks related to weather patterns or environmental legislation.  These disclosure requirements are set out primarily in National Instrument 51-102 Continuous Disclosure Obligations.

Environmental matters comprise a broad range of issues, including air, land, water and waste. These matters can affect issuers in several ways, including interrupting operations, resulting in material unplanned costs, providing new business opportunities, and potentially affecting reputation, capital expenditures, and a licence to operate.

"Greater transparency is needed regarding the nature and extent of environmental risks and other environmental matters," said Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). "This guidance should greatly assist issuers in complying with their disclosure obligations, which would ultimately provide investors with much more complete information on environmental matters."

Following consultations with investors, issuers and experts, the Notice provides guidance on compliance with disclosure rules in the following areas:

• Environmental risks and related matters;
• Environmental risk oversight and management;
• Forward-looking information requirements as they relate to environmental goals and targets; and
• Impact of adoption of International Financial Reporting Standards (IFRS) on disclosure of environmental liabilities.

Copies of the Notice and related rule materials are available on the websites of CSA members.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For further information:

Theresa Ebden	Sylvain Théberge
Ontario Securities Commission	Autorité des marchés financiers
416-593-8307	514-940-2176
Mark Dickey	Ken Gracey
Alberta Securities Commission	British Columbia Securities Commission
403-297-4481	604-899-6577
Ainsley Cunningham	Wendy Connors-Beckett
Manitoba Securities Commission	New Brunswick Securities Commission
204-945-4733	506-643-7745
Natalie MacLellan	Barbara Shourounis
Nova Scotia Securities Commission	Saskatchewan Financial Services Commission
902-424-8586	306-787-5842
Janice Callbeck	Doug Connolly
PEI Securities Office	Financial Services Regulation Div.
Office of the Attorney General	Newfoundland and Labrador
902-368-6288	709-729-2594
Graham Lang	Louis Arki
Yukon Securities Registry	Nunavut Securities Office
867-667-5466	867-975-6587
Donn MacDougall
Northwest Territories Securities Office
867-920-8984