CDEV reaches a milestone in its sustainability journey with the release of its inaugural Taskforce on Climate-Related Financial Disclosures (TCFD) report

Jul 26, 2023 | Announcements

Through its first TCFD report, CDEV shares its strategy, progress, and ambition in addressing climate-related risks and opportunities – both at the corporate level and within its subsidiaries.

“As a federal Crown corporation whose mandate includes managing critical assets for the Government of Canada, we take our mission to act in the best interest of Canada seriously and we recognize that climate change is a reality of our business, presenting a spectrum of risks and opportunities for our stakeholders, including our employees, subsidiaries, business partners, as well as the broader Canadian community,” says CDEV Board Chair, Steve Swaffield. 

This report outlines how CDEV completed a climate change materiality assessment to identify, assess, and prioritize its climate-related risks and opportunities. It is also the first step towards a climate change strategy that identifies opportunities for CDEV to improve the integration of climate change in our business model.

CDEV is fully committed to helping position Canada as one of the most successful economies where economic growth and sustainability are linked and can play a role together so Canadians can thrive. To this end, 2022 was a significant year for CDEV with the incorporation of a new subsidiary, the Canada Growth Fund Inc., a $15 billion arm’s length public investment vehicle that will help attract private capital in building Canada’s clean economy.

“We are proud of the work that our subsidiaries have undertaken to set exemplary environmental, social and governance (ESG) standards. Moving forward, we at CDEV will continue to deepen our work to provide robust climate-related financial reporting aligned with the TCFD recommendations over time and want to thank all our employees, subsidiaries, and business partners for helping us deliver our mandate successfully in the most reasonable and sustainable way possible,” says President and CEO, Elizabeth Wademan.

Read CDEV’s TCFD report here.