The Climate Risk Forum is the primary vehicle for OSFI to manage, convene, and coordinate its domestic climate engagement activities. The forum aims to build financial sector awareness and capacity to respond to climate-related risks. It brings together OSFI, our domestic partners, and stakeholders.
Become a subscriber now!
Subscribers can participate in the Climate Risk Forum in three different ways:
- Information sessions
- Advisory groups
- Engagement activities
Information sessions
The forum convenes two times a year, in the spring and in the fall. The bi-annual information sessions will:
- update subscribers on the progress of our climate initiatives and direction as a regulator
- inform subscribers about how we intend to directly engage partners and stakeholders via other forum-based activities
Advisory groups
In addition to the bi-annual information sessions, partners and stakeholders can share their expertise by participating in external advisory groups tied to forum-based engagement activities. External advisory groups will be set up using calls for expressions of interest so that selected representatives can inform climate risk roundtables, technical workstreams, and practitioner sessions described below.
We anticipate issuing our first call for expressions of interest in the months ahead.
Engagement activities
Subscribers to the forum can indicate their interest to participate in forum-based engagement activities, such as:
Become a subscriber
As a forum subscriber, you can attend and contribute to the virtual forum information sessions twice a year. You may choose to also indicate your interest to take part in other forum-based engagement activities including external advisory groups.
Forum subscription is open to interested Canadians, such as:
- Financial institutions
- Industry associations
- Government departments and agencies
- Domestic and international regulators and standard setters
- Rating agencies
- Think-tanks
- Academia
- Non-governmental organizations
- First Nations, Métis, and Inuit community governance bodies and partner organizations
- Non-finance economy representatives (oil and gas, transportation, manufacturers, builders, etc.)
We invite all interested Canadians to subscribe. This includes people who identify as Indigenous, Black, and racialized as well as people of diverse ethnicities, geographic origins, gender identities and expressions, sexual orientation, ages, socioeconomic backgrounds, financial means, religions, work experiences, lived experiences, physical and intellectual abilities, and all other characteristics, recognizing that these categories intersect in multiple ways.
Contact us to subscribe:
ClimateRisks-RisquesClimatiques@osfi-bsif.gc.ca
Current events and activities
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Consultation on the draft climate scenario analysis methodology: Part I
OSFI published its
draft Standardized Climate Scenario Exercise (SCSE) methodology for consultation on October 16, 2023. The two-part consultation process will support the refinement and effective implementation of the SCSE in 2024.
Part I of the consultation runs until December 22, 2023 and questions and/or comments about the draft SCSE methodology may be sent to
ClimateScenario-ScenarioClimatique@osfi-bsif.gc.ca.
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SCSE information session – November 21, 2023
On November 21, OSFI will host a virtual information session on the draft SCSE methodology during which answers will be provided to previously submitted questions. Participants will also have an opportunity to submit questions live during the question and answer period.
Register by November 20, 2023 at 12:00 p.m. ET / 9:00 a.m. PT.
Future events and activities
2024
January – March
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Guideline B-15
- Self-assessment questionnaire: What We Heard report
- Update to chapter 2 and annexes
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Climate Risk Returns
- Final returns templates and instructions
- Consultations on draft Climate Risk Returns: What We Heard report
April – June
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Standardized Climate Scenario Exercise
- Consultations, part I: What We Heard report
- Draft workbook and instructions
- Part II consultations
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Climate Risk Forum: Spring information session
Past events and activities
2023
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Climate Risk Forum
In June, OSFI launched its new Climate Risk Forum and hosted an information session. The virtual event was attended by over 1,000 representatives from a wide cross-section of partners and stakeholders.
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Consultation on the draft Climate Risk Returns
OSFI, in partnership with the Bank of Canada and Canada Deposit Insurance Corporation, published its
draft Climate Risk Returns for Federally Regulated Financial Institutions for industry consultation from June 28 to September 30, 2023.
The consultation process included 10 separate meetings with over 130 representatives from the financial and professional services sectors, industry associations, as well as federal and provincial governments. The information obtained during these sessions will be a key input to finalizing the Returns.
Contact us
If you have any questions about the Climate Risk Forum, or if you have ideas that you would like to share with us, please contact
ClimateRisks-RisquesClimatiques@osfi-bsif.gc.ca.