Disclosure of Corporate Governance Practices and Increasing Gender Diversity

In September 2014, LEAF provided a submission on the disclosure of corporate governance practices and its role in increasing gender diversity on boards and executive roles. LEAF provided the submission to securities regulatory authorities in Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Newfoundland and Labrador, Northwest Territories and Nunavut.

LEAF welcomed the Proposed Amendments, since they would require all TSX-listed issuers and other non-venture issuers reporting in the participating jurisdictions and in Ontario to make disclosure regarding gender diversity on their boards and in their executive officer positions using a “comply or explain” approach.

LEAF continued to recommend that there be disclosure requirements regarding term limits and targets regarding the number or proportion of women on boards or in executive officer positions. However, disclosure alone would be insufficient to address the serious underrepresentation of women in board and executive positions. Steps such as mentorship programs and term limits would help achieve the goal of increasing the participation and representation of women in the governance positions of Canadian issuers.

Read LEAF’s initial submission to the Ontario Securities Commission here.

Download the submission below.