(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

STARS transports man with gunshot wound

Reports of man involved in hunting incident air lifted out of Fairmont Hot Springs airport

When it’s all fun and games… and a little dust

An inside look at how Mainstreet Fun and Games chooses inventory

Accordion “still always big in demand”

Franz Grasegger invited to play on summer music tour with accordion

Hop downtown to hug the Easter Bunny

Easter activities across the Valley

Support through grief at hospice society

7th annual Butterfly Gala raises funds for Hospice Society of the Columbia Valley

Homeless activists outside Notre Dame demand ‘a roof too’

Wealthy people have donated millions to effort to rebuild cathedral after devastating fire

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

PHOTOS: Green Party Leader Elizabeth May says ‘I do’ on Earth Day

May and John Kidder got married Monday morning in Victoria

Sri Lanka invokes war-time military powers after nearly 300 killed in Easter bombings

Sri Lanka’s minister of tourism says 39 foreign tourists were killed in the Easter Sunday attacks

Ex-mayor of northern village claims its drivers are overpaying ICBC $1,800 a year

Darcy Repen says data shows Telkwa households are being ripped off for car insurance

Deadly synthetic drug found in Kamloops that puts users in ‘zombielike’ state

Interior Health warning says substance causes ‘speedy, trippy-like symptoms’ and hallucinations

Trudeau to be portrayed on ‘Simpsons’ episode

Toronto journalist who’s posted videos of himself doing impressions of the PM voiced him for the show

New MRI unit increases access

Interior Health aims for 5100 exams in Cranbrook this year

Elizabeth May’s wedding dress a ‘walk through a garden’ on Earth Day

Green Party leader set to get married in Victoria

Most Read