Scope
Federally regulated financial institutions
Canada · guidance
OSFI Guideline B-15
Climate Risk Management Guideline (OSFI)
Penalties
OSFI supervisory measures
Last verified
2026-08-22
In plain language
What this law does
Dictionary termClimate risk management expectationsgovernance, risk appetite, **climate scenario analysis and stress testing** (incl. standardized scenarios set by OSFI), GHG emissions disclosure (Scope 1/2, financed emissions Scope 3 expected on phased basis), transition-plan expectations.Read the full definition : governance and Dictionary termRisk appetiteRisk appetite is the amount and type of risk an organisation is willing to accept in pursuit of its objectives.Read the full definition integration, standardised scenario analysis and Dictionary termStress testingStress testing is the assessment of how an organisation, plan or asset may perform under severe but plausible adverse conditions.Read the full definition , and phased GHG disclosure including financed emissions.
Core obligations
Governance Dictionary termAccountabilityA relationship in which an actor must explain and justify decisions or performance to others who can question the account and trigger correction, consequence or remedy.Read the full definition ; Dictionary termClimate scenario analysisClimate scenario analysis is a structured exercise that tests how different plausible climate-related futures could affect strategy, financial position, operations or resilience.Read the full definition ; internal capital adequacy integration; phased emissions and Dictionary termTransition planA time-bound strategy linking an organisation's current business model to a climate-aligned future through targets, actions, governance, resources, dependencies and transparent progress.Read the full definition disclosure
Dictionary
Key terms for this law
Terms with a retained, published connection to this legal source.
- Climate risk management expectationsOSFI Guideline B-15 (federally regulated financial institutions)
Claims
Explore claims affected by this source
Search or filter the reviewed connections, then open one claim for its full market-by-market assessment.
- Net-zero portfolio by 2050Dictionary termNet zeroA state in which anthropogenic greenhouse-gas emissions are balanced by anthropogenic removals over a specified period and within a defined boundary.Read the full definition
Why this claim is connected
Product-level claims need an Dictionary termAdequate and proper testProduct-level environmental benefit claim requires testing **before** the claim; test must fit the claim's representationRead the full definition ; business/activity-level claims need Dictionary termSubstantiationThe documented body of relevant, reliable and current evidence that supports the exact wording, scope, comparison and overall impression of a claim before and while it is communicated.Read the full definition (the internationally recognised methodology requirement was repealed); reverse onus remains; private Tribunal access for business-level claims was removed.