The TMX Group Ltd. (the parent of the Toronto Stock Exchange) and the Institute of Corporate Directors (ICD) has just released a new report which recommends major improvements to Corporate Governance by increasing the diversity of corporate board membership. The report suggests boards should have at least 40 per cent of its members identify as women and 30 per cent from underrepresented racial groups, Indigenous people and disabled people.
We advocate that the LGBTQ+ community be included in the group of underrepresented visible minority communities. The Two-Spirit, lesbian, gay, bisexual, transgender, queer and intersex communities, and additional sexually and gender-diverse people, are the subject of the federal 2SLGBTQI+ Action Plan, launched in August, to advance the community’s rights and equality.
A discussion of the report was published in The Globe and Mail and a copy is provided below.
The recommendations are presented in the report Charting the Future of Canadian Governance: A Principled Approach to Navigating Rising Expectations for Boards of Directors. More information and the full report can be found HERE.GM-Corporate-Boards-Dec-2022