(PxHere)

Canada’s board gender diversity behind U.S. as resources, small firms lag: TD

It’s an improvement from 2011, when the U.S. outpaced Canada in eight out of 10 industries

The chief economist of Toronto-Dominion Bank says the gender diversity of Canada’s corporate boardrooms lags that of the U.S., with 24 per cent aggregate female diversity compared with 25 per cent south of the border.

Beata Caranci says in a new report that the country’s resource sector companies and smaller firms need to make stronger headway, as both comprise a larger proportion of the S&P/TSX benchmark index relative to the S&P 500.

She says there has been “noteworthy” progress since the Ontario Securities Commission in 2015 introduced a “comply or explain” rule to encourage gender diversity on boards and in senior management, including a rapid decline in the number of boards with zero women.

Caranci also notes that 2018 data shows S&P/TSX firms have a higher percentage of women-held board seats than U.S. issuers on the S&P 500 in seven out of 10 industry segments, including financials and telecoms.

She says that’s an improvement from 2011, when the U.S. outpaced Canada in eight out of 10 industries, but the latest data shows that Canadian board diversity continues to lag in the energy, materials and consumer-discretionary sectors.

Caranci says shareholder initiatives to put pressure on boards to increase the number of women show promise, but if there is little change within a few years, it may be time to consider policies targeting “trouble spots.”

READ MORE: Gender pay gap widest at top of the corporate ladder, new report says

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

West Kootenay couple escapes Spain – safe, sound, and in self-isolation

BC couple Garrett Kucher and Tory Apostoliuk make it home after almost a week of lockdown in Spain

Social media a blessing and a curse during time of crisis: B.C. communication expert

‘In moments of crisis, fear is very real and palpable,’ says SFU’s Peter Chow-White

Interior Health officials outline pandemic response in virtual town hall

Kelowna-Lake County MLA Norm Letnick moderates digital discussion, Q&A with Interior Health leadership

MP Morrison touts non-partisan effort to provide relief amid COVID-19 pandemic

The federal government has announced a slew of economic initiatives for those impacted by the pandemic

B.C. COVID-19 contact restrictions working, Dr. Bonnie Henry says

’Not out of the woods yet’ as next two weeks are critical

Canada expands 75% wage subsidy to COVID-19 affected businesses of all sizes: Trudeau

Program will provide up to $847 per week for each worker

LifeLabs reducing public hours as it assists with COVID-19 testing

Coronavirus tests not done at B.C. patient centres, referrals only

24,000 Canadian Forces members ready for COVID-19 response: Defence Minister

No direct requests made by premiers yet, national defence minister says

IN DEPTH: How B.C. emptied its hospitals to prepare for COVID-19

Thousands of beds have been freed up, but patients and seniors have had to sacrifice

Kootenay Meadows Farm experiencing shortage of glass milk bottles

Some grocery stores have stopped accepting bottle returns amid COVID-19 concerns

Crucial details of Ottawa’s proposed wage subsidy program expected today

The government has rolled out a bailout package totalling more than $200 billion

‘Nothing concrete’: Tenants, landlords lack details after B.C. unveils COVID-19 rental aid

Single mom in Golden says she’s already going to the food bank after being laid off

B.C. is seeing the highest rate of COVID-19 recovery in Canada, and there’s a few reasons why

British Columbia was one of the first to see rise in COVID-19 cases, and has also switched up testing

Most Read