(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

76 new cases of COVID-19 reported Thursday

Active cases at 1,036, 10,713 recovered cases

Alberta RCMP launch online crime reporting

Select property crimes can now be reported online through the province-wide initiative

COVID-19 tests urged for all teachers and school staff

121 new cases Wednesday, active cases up to 1,040

Two-night fundraiser supports Sylvan Lake family after parent death

Billy Cooney, owner of Cooney Creek Plumbing and Heating, died July 25 after a dirt bike accident

Sylvan Lake Community Partners reorganizes to better serve clients

The facility was thoroughly cleaned and reorganized during its shutdown due to COVID-19

Charges likely in fatal attack at central Alberta medical clinic: RCMP

A vigil was held Monday night to mourn the victim

Wetaskiwin Regional Public Schools receive grant from Indigo Love of Reading Foundation.

WRPS has received $15,975 from the Indigo Love of Reading Foundation.

Three people drown at Crescent Falls

Rocky Mountain House RCMP say the incident occurred Tuesday

Feds seeking private consultant to design firearm buyback program

The ban covers some 1,500 models and variants of what the government considers assault-style weapons

Face masks for teachers can impact learning on young children, experts say

Face coverings, mandatory in most indoor public places across the province, can help limit the spread of COVID-19

New Tory leader must build a strong team in Commons and for the campaign: Scheer

Scheer marked his final day in the House of Commons today as leader of the Opposition

Man accused of killing Red Deer doctor says he does not remember attack

Appearing before a judge, Deng Mabiour, 54, rambled about being sick and needing a doctor

Deaths feared after train derails amid storms in Scotland

Stonehaven is on the line for passenger trains linking Aberdeen with the cities of Edinburgh and Glasgow

Man, 54, charged in connection with fatal attack of Red Deer doctor

Doctor was killed in his walk-in clinic on Monday

Most Read