Only five per cent of Canadian companies have credible climate transition plans, according to a new report from climate-finance initiative Business Future Pathways (BFP). That puts Canada last among the G7 countries and Australia, behind the U.S., where six per cent of firms have credible plans. (The Logic)

Talking point: BFP’s report said that the financial risks linked to climate change are greater than ever, and that plans to cut emissions and adapt to global warming will help protect the global financial system. Canada trails the global average by five per cent, according to BFP’s analysis. Japanese firms were the most advanced in the G7, with 23 per cent of companies having solid climate transition plans. The report follows a drop in climate commitments among global financial institutions, including in Canada. Some Canadian firms have raised concerns that anti-greenwashing changes to the Competition Act discourage them from disclosing climate change policies.