In accordance with the Cabinet Directive on the Environmental Assessment of Policy, Plan and Program Proposals (2010), a Preliminary Scan was conducted for this Proposal: Enhancing Retirement Security for Canadians. The Preliminary Scan indicated that the proposal is unlikely to result in important environmental effects. With the exception of the indirect and potentially minimal positive impact that the introduction of “the environment” as one of the new stakeholders under the Duty of care of directors and officers in the CBCA may have, the proposal is not expected to have any further effects – positive or negative – on the environment. The proposal is of a legislative nature, with the intent to enhance retirement security, pension sustainability and alignment of corporate interests with those of pensioners, and does not have direct environmental implications. Furthermore, extensive consultations on this proposal with the public and with key stakeholders, including thousands of submissions, have indicated no concerns or potential impacts on the environment.
Designated projects and projects arising from this proposal will be assessed as per the Canadian Environmental Assessment Act 2012 and other applicable legislation prior to decisions being made.