As we discussed in our November 4, 2022, blog, Canada is moving forward with mandatory climate-related risk disclosures for federally-regulated banks and insurance companies in 2024. It is anticipated that this will affect 400 institutions and their customers across Canada. On March 7, 2023, The Office of Superintendent of Financial Institution (OSFI) released “Guideline B-15: Climate Risk Management.” This guideline will govern the methods the financial sector in Canada...
Read MoreEnvironmental Enforcement and Fines
In our February 8, 2023 blog, we discussed the apparent trend of more environmental regulations and increasing environmental enforcement at the federal and provincial levels. Whether the data support this anticipated trend is something we will monitor. In the meantime, below, we share some recent enforcement news. Niagara Falls Company Fine Hits Six Figures Between a fine and victim surcharge, a chemical company in Niagara Falls, Ontario, (Cytec Canada) will pay...
Read MoreEnvironmental Enforcement in Ontario
No one wants to be on the receiving end of an environmental enforcement action. There are often fines involved, sometimes significant fines. Beyond the fines and bad public relations, the cause for the “event” still must be addressed. Below are a couple of recent enforcement events in Ontario. Federal Enforcement in Kitchener According to the Canadian Government, on June 24, 2021, Drewlo Holdings Inc. (in Kitchener, ON) entered into an alternative measures agreement with...
Read MoreWater Quality Concerns
Aside from maintaining environmental compliance, dealing with a spill, evaluating long-term remediation efforts, or assessing the environmental liability at a commercial property before your company commits, there are the big-picture environmental issues that may eventually affect you (or your client’s) business. Environmental Impacts to Water Bodies One of the big-picture issues that is important to everyone is the health of water bodies, small and large. More...
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