Back to the Learning Academy.

What the amendments of Bill C-59 mean for Canadian companies

July 12, 2024
TMX Group & Carbonhound
ESG, Disclosure, Governance, Investor Relations

Canada's Bill C-59 received royal assent on June 20th, 2024 and officially became a law. The amendments to Canada's Competition Act will require businesses to provide evidence supporting any environmental claims. Private enforcement will be allowed, without needing to prove personal loss or damages. Failure to comply with the new requirements can result in monetary penalties up to $10 million, or three times the benefit obtained from the claim, or 3% of the company's annual global gross revenue.

Click here for more information, as well as a preparedness checklist created by Carbonhound.

Related Articles

November 3, 2025
CIRI

New Developments in Environmental, Social and Governance (ESG) Disclosure for Companies

Since CIRI's last Backgrounder on this topic in February 2025, the pace of new developments in the area of ESG standards and regulatory disclosure has slowed. The most significant development has been the cessation of all progress by the U.S. Securities and Exchange Commission toward the development of climate disclosure rules for listed companies.

November 3, 2025
The Canadian Securities Administrators (CSA)

Canadian securities regulators propose semi-annual financial reporting pilot

The Canadian Securities Administrators (CSA) announced a proposed multi-year pilot to allow eligible venture issuers to voluntarily adopt semi-annual financial reporting (the SAR Pilot). The SAR Pilot would provide an exemption for certain venture issuers listed on the TSX Venture Exchange Inc. (TSXV) or the CNSX Markets Inc. (CSE) from the requirement to file first and third quarter financial reports under National Instrument 51-102 Continuous Disclosure Obligations.

TMX Group Limited and its affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content (including any links to third party sites) is provided for informational purposes only (and not for trading purposes), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of any third party reflect those of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for such information.

Copyright © 2025 TSX Inc. All rights reserved.