As you know I enjoy reporting on news from across Canada for Purely Purebred and visiting with producers any chance I get. As a cattleman myself, I am in the role of being able to wear two hats (so to speak) — one as a member of the Canadian beef industry and also as a representative and national account manager with Canadian Cattlemen magazine.
Needless to say, I was more than a little concerned when I read Karen Briere’s front page article in the June 15 Western Producer titled ‘Sustainability accounting worries cattle sector.‘
Briere reported on the proposed mandatory climate-related financial disclosure standards proposed by the International Sustainability Standards Board (ISSB) in Canada. Dr. Terry Nemeth told audiences about the standards at the recent Saskatchewan Stock Growers Association convention. Briere did an excellent job of spelling out the issues around the effect that this bill would have on the livestock industry in Canada. One of the main issues is that producers may have to verify the Scope 3 emissions for a particular product, which in this case is the beef being produced and the emissions not only from your farm or ranch but downstream.
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The ISSB says producers can estimate these emissions but they must be verified by a third party. As part of these standards producers may have to do a climate risk scenario analysis every year with costs running as high as $50,000 per year. Plus Prairie producers are in what are considered high-risk water stress areas, while producers in Ontario and Quebec are not.
Since this story came out in the Western Producer I’ve had many producers phone me with concerns, as well they should be. Also, Melissa Bezan, our own field editor, has an article about this in our August issue of Canadian Cattlemen you need to read. Terry Nemeth was also on the John Gormley show. Check out John Gormley’s June 22, 10 a.m. podcast.
Well, readers, it’s crunch time. Write your member of parliament and let them know what you think of this onerous initiative and tell them what it will do to you and your family and to agriculture in Canada. They say they want this in place by the end of July, but we still need to let them know.
You can also contact Lisa French, vice-president of sustainability at Financial Reporting and Assurance Standards Canada by email at [email protected] to express your concerns. Their website is frascanada.ca.
There are varying degrees of compliance for producers from across Canada, but we need everyone to work together to stop these standards.
