An Offset Credits Subcommittee was established as part of the Climate Action Response Team (CART) to develop a Climate Offset Credit Framework that would provide high level guidance on navigating the Region’s use of Offset credits. The Framework is pending approval.
A Climate Finance Subcommittee has been established as part of the Climate Action Response Team (CART) to advance the planning and implementation of a carbon budget and developing a transparent climate disclosure framework.
The International Public Sector Accounting Standards Board (IPSASB) has recently announced a phased approach to climate related disclosure standards. While the Canadian Public Sector Accounting Board (PSAB) has not yet included such requirements in its implementation timeline, the Region will continue to monitor developments and assess the timing and implications of any future standards in Canada.
Planning and implementation of developing a carbon budget and a transparent climate disclosure framework were initiated.