The Evolving Landscape of Corporate Environmental and Social Responsibility: A Critical Examination

Editorial Note

Abstract

Climate change is no longer a distant threat; it is an immediate reality that poses             
significant risks to economies, ecosystems, and societies worldwide. In Canada, the 
implications of climate change are particularly pronounced, with rising temperatures 
and extreme weather events affecting everything from agriculture to urban                  
infrastructure. A study published by the Canadian Institute for Climate Choices (2021) 
highlights that climate-related risks could cost the Canadian economy between CAD 
21 billion to CAD 43 billion annually by 2050 if no action is taken. These figures              
underscore the urgency for businesses and policymakers to incorporate climate risk 
assessments into their strategic planning. Furthermore, the role of financial markets in 
reflecting these risks is crucial; as investors increasingly seek to understand the                
long-term viability of their portfolios, companies that fail to address climate risks may 
find themselves at a competitive disadvantage. This editorial note serves as a call to 
action for stakeholders to recognise the value relevance of climate change risks in their 
decision-making processes, thereby fostering a more resilient and sustainable future 
for all Canadians.