Time for business leaders to step up for the climate

Canada's business leaders face a stubborn paradox.

- GARY SCHWARTZ

The Parkland Burnaby Refinery on Burrard Inlet at sunset in Burnaby, B.C. Canadian business leaders must take decisive action to ensure that sustainable finance is not merely a checkbox on a corporate accountability report, writes Gary Schwartz.

We are deeply concerned about how climate change will impact our nation's environmental and economic health for future generations. But at the same time, many of us are woefully unprepared to take meaningful action.

For proof, look to a recent BMO survey of 700 business leaders across the United States and Canada. It shows that although nearly half of respondents "believe climate change is already affecting their businesses," just 10 per cent of Canadian respondents, "said they feel strongly supported to establish and pursue a realistic climate plan."

This should come as no surprise to anyone who has been trying to curb climate change in Canada. The truth is there remains a critical element that is holding this country back from a greener economy and a safe future for all Canadians: the existence of clear industry guidance to help Canadian businesses pursue sustainable finance.