March 26, 2026
Lead of Torys Climate Change practice and co-lead of the Sustainability practice Tyson Dyck sat down with Sustainable Views to share his insight on the current climate policy landscape.
Tyson explained that, despite the importance of ESG to Canadian investors, Canada’s lack of follow through on climate finance early in Prime Minister Mark Carney’s first year partly reflected the dominance of the US’s climate positions.
“We’re very much affected by what’s happening south of the border,” Tyson said.
“Under the Trump administration, the [Securities and Exchange Commission] abandoned its own public disclosure rules, and shortly thereafter the [Canadian Securities Administrators] took a step back from advancing its own public disclosure rules.”
Tyson argued that over the past year, Canadian climate policy has shifted toward a more pragmatic approach.
“There was a recognition on the part of the Carney government that we can’t move forward with a whole bunch of policies that don’t enjoy popular support, especially in the western provinces,” he added.
The government has seemingly sidelined both the federal emissions cap and the consumer fuel charge to focus on securing long‑term certainty around industrial carbon pricing.
“There’s a genuine drive in the federal government to develop a robust industrial carbon pricing system,” Tyson said.
“That’s not only to help address climate changes—it’s also to help us access different markets like the EU that might have a [Carbon Border Adjustment Mechanism] in place.”
You can read more about our Sustainability work on our practice page.
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