We are pleased to announce the release of our commissioned independent academic study on the status of LGBTQ+ individuals on Canada’s corporate boards.
This pioneering study by the Institute for Gender and the Economy at the University of Toronto’s Rotman School of Management, supported by the LGBTQ+ Corporate Directors Canada Association, quantified LGBTQ+ representation among board members of Canadian companies. Focusing on TSX-listed firms already subject to disclosure rules for women on boards (1,110 companies for the years 2015-2022), the authors of the report gathered names and demographic information on 9,396 individual board members. They scrutinized the demographics of each board member using websites, newspapers, LinkedIn, board bios, and QueerBio.com.
The researchers found only 9 board members who publicly identified as members of the LGBTQ+ community (7 in 2022, which was 0.15% of all board members that year). This figure is notably low, given StatCan’s estimation of 4.4% of Canadians identifying as LGBTQ+ (with IPSOS estimating 9%). The actual count might be higher, considering some individuals may opt not to disclose their identity publicly.
The results are a shocking wake-up call for the community. The report highlights the need for the advocacy work of the Association and strengthens the commitment to its focus on bringing diversity to Canada’s Corporate Governance world through an LGBTQ+ presence.
This report will be followed by a second research study investigating the causes and consequences of this situation. Included will be questions such as: What factors deter LGBTQ+ individuals from publicly disclosing their identities? What cultural and structural barriers hinder LGBTQ+ access to board positions? How can organizations improve recruitment, retention and promotion processes to enhance LGBTQ+ representation across all levels, including boards?
See the release of the report HERE.