TSX Trust, as a subsidiary of TMX Group, integrates its climate risk management into the enterprise-wide sustainability framework.
*Note to reader - the information contained on this webpage is only applicable to TSX Trust’s Canadian operations, and not to any other region in which it may operate.
Understanding OSFI Guideline B-15
In early 2023, the Office of the Superintendent of Financial Institutions (OSFI) released Guideline B-15: Climate Risk Management. This regulatory framework establishes expectations for how Federally Regulated Financial Institutions (FRFIs), including TSX Trust Company, must manage and disclose climate-related risks.
What is Guideline B-15?
Guideline B-15 is Canada’s first comprehensive framework for climate risk. It acknowledges that climate change and the global transition to a low-carbon economy presents significant financial and operational risks to the Canadian financial system.
Our Approach
TSX Trust manages climate risk through the four pillars identified under Guideline B-15: Governance, Strategy, Risk Management, and Metrics & Targets:
Governance
The TSX Trust Board of Directors and senior management committees oversee climate-related risk matters. Sustainability objectives are tracked through TMX Group’s OCRM approach, which identifies the risks, mitigations and opportunities that need to be considered and/or implemented to successfully achieve parent-level objectives.
Strategy
Our climate strategy is aligned with the TMX Group enterprise risk management framework, and focuses on identifying the potential impact of climate-related risk and opportunities on our business model and value chain. Identified risks include transition risks (e.g. increased compliance burdens) and physical risks (e.g. possible effects of severe weather events), while identified opportunities include leveraging expertise in data processing to expand our service offerings.
Risk Management
TSX Trust requires its vendors to follow the TMX Group Supplier Code of Conduct, as well as all applicable laws and regulations (such as environmental laws). The Code of Conduct encourages vendors to integrate environmental sustainability into their policies and business practices and develop targets to reduce their environmental impacts.
With respect to our clients, questionnaires are used during the client onboarding process to identify various risk factors, which are evaluated against our Risk Appetite Framework by our Compliance and Risk teams. Our internal Audit team provides independent assurance that these local processes align with both our parent-level policies and any regulatory expectations.
Metrics/Targets
TSX Trust has calculated its Scope 1 and Scope 2 emissions, following the consolidated “operational control” approach established by the Greenhouse Gas Protocol Corporate Standard and used by TMX Group.
0.00 tCO2e*
Scope 1 (Stationary Combustion) Emissions
*tons of carbon dioxide equivalent101.78 tCO2e*
Scope 2 (Location and Market-Based) Emissions
*tons of carbon dioxide equivalentOur Reporting Requirement
As a subsidiary of TMX Group, TSX Trust fulfills these regulatory obligations by contributing to a consolidated enterprise-wide climate disclosure. You can find our specific B-15 climate risk report as a dedicated appendix within the TMX Group Annual Sustainability Report:
TMX Group 2025 Sustainability Report
TSX Trust Company's climate-related financial disclosures are featured in Appendix E of the TMX Group 2025 Sustainability Report (pages 37-44).
Supplemental Resources
Contact Information
Have questions about the TSX Trust Climate Risk Report? Please contact the TSX Trust Risk Team at tsxtrisk@tmx.com.