(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.

Just Posted

New exhibit at Haida Gwaii Heritage Centre, Kay Llnagaay

Ubiquitous Cocoons: My metamorphosing life by Kathy Pick will be running until Sept. 1, 2019

Steve Nash Youth Basketball wraps up in Massett

RCMP coordinated the 12-week program for children between the ages of eight and 10

Smithers man receives two-year sentence for fatal car crash

Over a year after a fatal crash, a Smithers man has been sentenced to two years plus a day in jail.

Backyard burning still prohibited on Haida Gwaii, fire chief warns

Village of Queen Charlotte fire chief Larry Duke is reminding the public… Continue reading

COLUMN: The removal of the Pigeon Guillemot ‘colony’

Birds lost their place after the removal of the old wharf at Shingle Bay in Sandspit

10 facts about Father’s Day

Did you know that the special day for dads was first celebrated in 1910?

B.C. VIEWS: When farmland protection doesn’t protect farmers

Secondary residences aren’t mansions, families tell Lana Popham

Bombers down B.C. Lions 33-23 in season opener

Former Lion Andrew Harris leads Winnipeg with 148 rushing yards

Northern B.C. family remembers murdered Indigenous woman with memorial walk

Still no closure for Ramona Wilson’s family 25 years later

B.C. university to offer mentorship program for former youth in care

Students using the provincial tuition waiver program will soon be able to form a community at KPU

Cyclists competing in one of the toughest bike races on the planet pass through Fernie

Divide riders looking strong as they finish first leg of 4160 km race

You might not know these B.C. records are public

Hired a lawyer to file a civil claim? Those are published online

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

B.C. Interior First Nation family ‘heartbroken’ over loss of young mom

RCMP have released no new information since the June 8, 2019 homicide

Most Read