New report demonstrates that proposed Consumer Protection Privacy Act will protect consumers and enable them to enjoy the benefits of data
TORONTO, October 06, 2022--(BUSINESS WIRE)--Canadians increasingly expect organizations to use consumer data to deliver the products and services they want and need, a report released today by the Canadian Marketing Association (CMA) shows.
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Canada's Privacy Law Priorities (Graphic: Business Wire)
The report, Canada’s Privacy Law Priorities: Better Protections for Canadians + Innovation for Economic Growth, makes the case for a made-in-Canada approach to privacy law reform that provides effective privacy protection for consumers and enables Canadians to enjoy the enormous social and economic benefits of data use.
"Canadians increasingly recognize the benefits of sharing their data with businesses to receive and access many of the services they use and interact with daily," said Sara Clodman, vice-president, public affairs and thought leadership at the CMA. "Canadians’ acceptance of receiving targeted information and advertising online has doubled in the past 12 months alone. In fact, many say they wish the targeting was even better."
Data use is, and will continue to be, a driving force for progress and innovation across all Canadian sectors. Statistics Canada has estimated that Canadian investment in data grew more than 400% from 2005 to 2019 and that data-related assets in Canada were worth $217 billion in 2018 – equivalent to more than two-thirds the value of the country’s crude oil reserves. The volume of data worldwide has almost doubled since 2020, and is expected to triple by 2025.
The report demonstrates that when used responsibly, the analysis and use of consumer information is highly beneficial to Canadians. For businesses, data analysis informs operational strategies, improves business competitiveness, drives technological advancement and increases profitability, stimulating the economy and supporting job creation across all Canadian sectors.
The federal government recently tabled long-awaited reforms to Canada’s private sector privacy law. Minister of Innovation, Science and Industry François-Philippe Champagne introduced Bill C-27, which includes the Consumer Privacy Protection Act (CPPA), in June. It is expected to be debated this fall.
The CPPA proposes a strong and effective framework that includes:
A principles-based and technology-neutral approach to privacy, which would ensure that Canadian privacy law remains responsive to rapidly evolving technologies, business models and consumer expectations.
Strong and modernized consumer rights and protections, greater transparency and accountability requirements for organizations, and the strongest financial penalties in the G7.
New efforts to ensure meaningful consent from consumers, and targeted protections for children and youth.
"If passed, the CPPA would achieve Canada’s privacy law priorities," Clodman said. "It would strengthen privacy protections for consumers and ensure Canadian organizations can leverage data to secure a competitive economic position in the global digital economy for years to come."
The full report, Canada’s Privacy Law Priorities: Better Protections for Canadians + Innovation for Economic Growth, is available for download here.
About the Canadian Marketing Association
The CMA’s purpose is to embolden Canadian marketers to make a powerful impact on business in Canada. We provide opportunities for our members from coast to coast to develop professionally, to contribute to marketing thought leadership, to build strong networks, and to strengthen the regulatory climate for business success. Our Chartered Marketer (CM) designation signifies that recipients are highly qualified and up to date with best practices, as reflected in the Canadian Marketing Code of Ethics and Standards. We represent virtually all of Canada's major business sectors and all marketing disciplines, channels and technologies. Our Consumer Centre helps Canadians better understand their rights and obligations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005112/en/
For more information or to schedule an interview:
Nathaniel Glassman, Kaiser & Partners Inc. (firstname.lastname@example.org | 416-998-2258)