The Globe and Mail recently published an opinion piece by Barbara Zvan and Barbara Stymiest, which compellingly argues for the adoption of international sustainability standards aligned with the International Sustainability Standards Board (ISSB) criteria. The Ontario Society of Professional Engineers (OSPE) fully supports this call for global and Canadian alignment with these emerging standards.
Climate Crisis Task Force Chair, Geoff Sheffrin, P.Eng., in his letter to the Globe and Mail echoes that the scientific consensus is clear: human activities are driving climate change. To effectively combat this global challenge, robust metrics and standards are needed to guide efforts. Just as accounting and audit standards are rigorously followed across over 160 economies to ensure fiscal integrity, a standardized approach for Environmental, Social, and Governance (ESG) practices is essential. Without such standards, there is a risk of a fragmented and ineffective response to climate change.
The need for a universally accepted set of criteria is undeniable. Metrics provide the data necessary to measure progress, set goals, and steer strategies. Without them, there is a lack of direction and meaningful benchmarks. International standards, such as those set by the ISSB, offer a critical framework to measure sustainability efforts accurately and transparently.
Moreover, these standards are crucial in addressing the issue of “greenwashing”—the misleading practice of presenting an organization’s efforts as more environmentally friendly than they truly are. By adopting clear, internationally recognized criteria, it becomes possible to better manage and report progress, ensuring that sustainability claims are credible and verifiable.
Canadian Sustainability Standards Board (CSSB)
Canada’s role in this global effort is significant. The Canadian Sustainability Standards Board (CSSB) must align with the ISSB to ensure that Canadian standards reflect the highest level of international rigor. This alignment is not only about adhering to global practices but also about positioning Canada as a leader in sustainable development and demonstrating a commitment to meaningful climate action.
The opinion piece in the Globe and Mail highlights these points accurately, and OSPE supports the call for alignment with international standards. The organization has actively advocated for this alignment and has submitted recommendations to the government to emphasize the importance of integrating global standards into Canadian practices.
This call for adopting global sustainability standards isn’t just a pivotal move for effective climate action—it’s also a significant opportunity for engineers. Here’s how embracing these standards can benefit the engineering profession at large.
Driving Innovation and Expertise
Advanced Skill Development: Aligning with ISSB standards requires engineers to master new skills in sustainability metrics, green technologies, and ESG reporting. This continuous learning fosters innovation, equipping engineers to lead the design and implementation of advanced solutions that meet the latest global criteria.
New Specializations: The adoption of these standards will create demand for new engineering specializations in areas such as sustainability consulting, green certification, and compliance auditing. Engineers can explore these emerging roles, positioning themselves at the forefront of the green revolution.
Expanding Business Opportunities
Enhanced Market Competitiveness: Firms adhering to international standards differentiate themselves in the marketplace. This alignment attracts clients who value rigorous environmental practices, allowing engineers to drive growth and gain a competitive edge for their firms.
Access to Global Markets: Compliance with ISSB criteria opens doors to international markets. Canadian engineering firms can seamlessly enter global arenas and forge international partnerships, thanks to their adherence to globally recognized standards.
Improving Client Trust and Attracting Investment
Building Credibility: Standardized metrics and frameworks enhance transparency, building trust with clients and stakeholders. Engineers play a critical role in developing and implementing these metrics, ensuring that sustainability claims are both credible and verifiable.
Attracting Sustainable Investments: Investors increasingly seek companies with robust sustainability practices. Engineering firms that demonstrate adherence to ISSB standards are better positioned to attract investment from those prioritizing ESG criteria, driving business growth.
In conclusion, aligning with international sustainability standards is not only a crucial step for addressing climate change but also a strategic advantage for engineers. It fosters innovation, opens new business avenues and builds credibility. Stakeholders are encouraged to support this alignment. Adopting these critical standards, measuring progress effectively, and leading by example in the global fight against climate change are essential steps.
For more details on OSPE’s submission and ongoing advocacy efforts, visit the OSPE website or contact us directly at info@https://ospe.on.ca/wp-content/uploads/2024/10/academy-banner-7.png.on.ca.
Geoff Sheffrin’s letter to the editor as published in the Globe and Mail on September 5, 2024
“Re Canada must align its corporate climate disclosures to global standards” (Report on Business, Aug 30th): Scientific consensus agrees that climate change is caused by human activity. We need a standard set of criteria against which to measure where we are and where we are going. If we don’t measure, we have no data, we have no direction and no end goal. International and parallel Canadian standards are critical to our success. We should have a clear mechanism to cut through greenwashing and manage our progress. Canada and the equivalent Canadian Sustainability Standards Board should be aligned with the emerging global standard of the International Sustainability Standards Board. ” Geoff Sheffrin P.Eng. Chair, Climate Crisis Task Force, Ontario Society of Professional Engineers.”
Leave a Comment