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ESG'S MANDATORY
DISCLOSURES AND
BACKLASH
Feature
AS ENVIRONMENTAL, SOCIAL, AND GOVERNANCE
REPORTING REQUIREMENTS ARE INTRODUCED IN CANADA,
AN ANTI-ESG MOVEMENT IS GROWING IN THE US
JUST AS mandatory environmental, social,
and governance (ESG) reporting appears to
be right around the corner, and businesses are
preparing disclosure processes concerning the
climate and human rights in supply chains, an
anti-ESG movement is taking root south of
the border.
Bill S-211, the Fighting Against Forced
Labour and Child Labour in Supply Chains
Act, received Royal Assent on May 11, 2023.
By May 2024, many government agencies
and private companies must report annually
on their actions to prevent forced or child
labour use in their supply chains. e new law
applies to private-sector organizations listed
on a Canadian stock exchange or who have a
nexus to Canada because they have Canadian
assets, a place of business, or are doing busi-
ness in Canada. For the law to apply, a private
company must meet two of three criteria: at
