The Ontario Securities Commission has released new rules which will require most TSX-listed companies to set targets for women’s board and executive committee representation. The move will require non-venture issuers to provide annual disclosure regarding the following items in their proxy circular or annual information form:
• director term limits and other mechanisms of renewal of the board,
• policies regarding the representation of women on the board,
• the board’s or nominating committee’s consideration of the representation of women in the director identification and selection process,
• the issuer’s consideration of the representation of women in executive officer positions when making executive officer appointments,
• targets regarding the representation of women on the board and in executive officer positions, and
• the number of women on the board and in executive officer positions.
Nine jurisdictions in Canada have embraced these regulations, heralding a significant shift in this country around boards, in particular, and a better understanding of the ways in which better gender diversity strengthens an organization.
On November 13th Catalyst is co-hosting a panel discussion at the TSX with two key partners who have also been powerful ‘agents of change’ around boards globally – the International Women’s Forum and The 30% Club. Kellie Leitch, the Federal Minister for Labour and for the Status of Women will attend. Discussions will focus on the OSC regulations, the path forward and then the opening the stock exchange with a photo-op.