Leading Global Law Firm Baker McKenzie's Financial Times Award-winning multidisciplinary innovation hub (“Whitespace Legal Collab”) recently hosted a roundtable discussion to facilitate consultations of the Government of Canada's Expert Panel on Sustainable Finance.
The distinguished members of the Expert Panel are as follows: Tiff Macklem, Chair, and Dean, Rotman School of Management, University of Toronto; Andy Chisholm, RBC Director; Barbara Zvan, Chief Risk and Chief Strategy Officer, Ontario Teachers' Pension Plan; and Kim Thomassin, Executive Vice President and General Counsel, Caisse de dépôt et placement du Québec (CDPQ).
Baker McKenzie provided legal, policy, governance and trend perspectives to the Expert Panel from the Firm's Global Environment Markets and Climate Change Law Practice and Global Energy, Mining and Infrastructure Industry Group.
“Thanks to Baker McKenzie for your thoughtful input and excellent round table discussion,” said Tiff Macklem, Chair of the Expert Panel on Sustainable Finance. “You really put a great deal into it and it was tremendously helpful.”
On June 14, The Panel released its final report, Mobilizing Finance for Sustainable Growth. The final report presents 15 operational recommendations with the goal of "mobilizing financial services to deliver the investment, ingenuity and influence needed to realize Canada's leadership opportunity and secure a sustainable economic future." The report also indicates that Canada is positioned to become a leader in the global transition towards a low-emissions future.
Sanjay Khanna, Director and Futurist, Baker McKenzie's Whitespace Legal Collab, notes, "Next steps associated with mainstreaming sustainable finance will require a commitment to communicate and collaborate across sectors and geographies; build supporting institutions; analyze decision-useful climate data; and make investments to protect economic and environmental interests of people and organizations around the world.”
Adds Kevin Coon, Global Policy Chair, Baker McKenzie: “Sustainable finance is about responsible business. It was an honor to host this important roundtable for the Expert Panel. We assembled our leading lawyers and business professionals to explore a subject that raises fundamental issues for capital markets, financial institutions, pension funds, private equity, governments and social sector organizations concerned about corporate governance, socioeconomic development, energy transition, sustainability, human rights, and climate change impacts."
Baker McKenzie will advise its clients on the Expert Panel's recommendations and on responsible business and civic leadership.