Climate-Related Financial Disclosures: A key requirement for LEEFF funding

Canada’s Federal Government announced the Large Employer Emergency Financing Facility (LEEFF) to support businesses through the COVID-19 crisis. To access the funding, companies must commit to publishing annual climate-related disclosure reports consistent with the Task Force on Climate-Related Financial Disclosures (TCFD), and demonstrate how future operations will support national climate goals.

Understand and address your commitment to climate-related disclosures under the federal government’s LEEFF program for COVID-19 support.

In Canada, the federal government is currently rolling out bridge loans and financial support programs to help businesses weather the economic impacts of COVID-19. 

The Large Employer Emergency Financing Facility (LEEFF) will provide support to large commercial businesses with annual revenues of more than $300 million, which have significant operations or employees in Canada, in instances where credit needs aren't being met through conventional financing.

To qualify, companies seeking financial support will need to report on how they are managing the opportunities and risks associated with climate change. The reporting requirements are based on the Task Force on Climate-Related Financial Disclosures (TCFD) framework, which outlines the assessment and disclosure of climate risks and opportunities.

In addition, recipient companies must indicate how future operations will align with federal climate change and sustainability goals, which include achieving net-zero emissions by 2050, investing in low-carbon and resilient infrastructure, and expanding clean technologies.

WSP is ready to support your business to respond quickly to these requirements, and to help you measure and manage your climate risk. We bring an approach that is:

  • Practical and scalable: For businesses of any size and sector, we will assess climate-related risks and opportunities, strategies and governance structures, climate resilience, and metrics in alignment with TCFD recommendations and Canada’s climate goals.
  • Knowledgeable: We have a deep understanding of how physical risks impact buildings and infrastructure, and can apply this knowledge to industries with large infrastructure capital expenditures such as mining, oil and gas, manufacturing, hospitality and tourism, power and utilities, etc.
  • Tailored: Our team is equipped to navigate rapidly evolving markets and funding streams, meet federal funding requirements, and develop climate change strategies specific to your business needs.
  • Flexible: Whether you have established climate change and sustainability work, or are just starting out, we support businesses at any phase of the climate change planning and reporting process.
Download our Climate Financial Disclosure brochure

Contacts

Rick Alsop
Advisor, Climate Change & Resilience, Environment
Canada
Elliott Cappell
Director, Climate Change and Resilience, Environment
Canada