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Toronto Exchanges Adopt IHS Markit for ESG Reporting and Data Distribution

IHS Markit is making its ESG Reporting Repository platform available free of charge to corporations listed on the Toronto Stock Exchange (TSX) and its TSX Venture Exchange (TSXV) under a strategic alliance aimed at helping TSX-listed companies navigate emerging ESG reporting requirements.

The IHS Markit ESG Reporting Repository is a multi-framework ESG reporting and data distribution platform that supports 17 voluntary and regulatory ESG schemas, and is slated to expand to other frameworks as required. The platform allows users the ability to upload, cross reference and compare ESG data across all supported frameworks to help manage their increasingly complex and often multi-jurisdictional ESG disclosure and reporting obligations.

Upstream users can utilise the platform to collect and manage ESG data across their supply chains, overseas entities and internal venture capital portfolios using any of the supported frameworks. Downstream users, meanwhile, can utilise the platform to deliver and report ESG data to their investors, bankers and regulators using any of the supported frameworks. Users are also able to compare their ESG metrics to a subset of global peers by choosing from ESG metrics for over 8,700 global public companies.

As part of the agreement, TSX and TSXV will recommend the use of the repository to approximately 2,300 public companies listed on the exchanges at no additional cost. The collaboration is intended to help listed firms navigate increasingly complex ESG and climate change reporting and data management demands and adopt global ‘best practices’ by using the repository to streamline their ESG reporting and access peer and investor insights.

According to Loui Anastasopoulos, President, Capital Formation, and Enterprise Marketing Officer at TMX Group, “Whether a large multi-national or young entrepreneurial business, addressing the challenges of ESG and climate change reporting is a key priority for the exchanges. Our alliance with IHS Markit lays the groundwork to facilitate broader ESG reporting by our issuers, and broader dissemination of their ESG disclosures to a global audience.”

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