Shareholders, investors and stakeholders are increasingly requiring more information about the risks related to greenhouse gas emissions and carbon exposure. From Management Discussion and Analysis reports to voluntary carbon disclosures, corporations struggle to know what to report, how to report and the consequences of not reporting.

Voluntary initiatives such as the Carbon Disclosure Project and recent developments in Canadian and US Securities Commissions point to increasingly sophisticated and onerous disclosure requirements ahead.

To help you understand carbon disclosure and what it means for your business, The Delphi Group and MacLeod Dixon LLP are pleased to invite you to a webinar on Climate Change Reporting, Disclosure and Best Practice.

For more information on the topics and speakers please see below

Date: April 7th, 2010

Time: 13:00 EST / 11:00 MST / 10:00 PST

Location: Online webinar

Duration: 60 minutes

Topics and speakers include:

1. Investor Oriented Voluntary Disclosures - The Carbon Disclosure Project as Starting Point and Stepping Stone:
   Graham Campbell - The Conference Board of Canada

   Synopsis:

   The annual CDP survey reveals that Canada's largest companies are acting on many fronts. They now see more opportunities than risks from climate change; they are acting to address the foreseen risks; their Boards are organized to give attention to climate change; actions are being taken to modify their operations in anticipation of the expected impacts; and, new product lines and lines of business are being considered.

2. 'Involuntary' Climate Change Disclosures - Emerging Disclosure Requirements and Uncertainties Surrounding Them:
   Lisa DeMarco & Cathy Ma - Macleod Dixon LLP
   

   Synopsis:

   National Instrument 51-102 requires that Canadian issuers disclose any material environmental risks in their continuous disclosure filings. Climate change risk has been a topic of heated debate in Canada and across the border. Investor awareness of the impacts of climate change risk has led to calls for clarifications from securities regulators on the types of environmental risks that should be disclosed in securities regulatory filings. This talk will discuss the nature of the evolving mandatory disclosure of climate change risk in securities filings in Canada and the implications of the recent Securities Exchange Commission (SEC) guidance on climate change disclosure.

3. Benchmarking Carbon Disclosure in Financial Reports - Best practice, Benchmarking and Trends in Corporate GHG Reporting:
   Ted Ferguson - The Delphi Group

   Synopsis:

   The Delphi Group has been benchmarking 15 major North American companies on how they are disclosing carbon risks and opportunities within a financial reporting context, including MD&As, AIFs, and 10Ks. Delphi will summarize findings to date, describing how companies are defining material risk, and qualifying the impacts of future policy decisions on greenhouse gas regulations.

Thank you for your interest and we hope you look forward to the webinar.

Sincerely,

The Delphi Group & Macleod Dixon LLP.