People Mentioned
Partner, Corporate, Toronto
The last year has seen less public disclosure of diversity initiatives from Canadian companies, but many are quietly continuing such programs in spite of backlash in the United States and elsewhere, according to Osler’s 11th annual Diversity Disclosure Practices report.
John Valley, Chair of Osler’s Corporate Governance group and an author of the report, points to two significant reasons why many companies are maintaining their diversity, equity and inclusion (DEI) efforts in an interview with The Globe and Mail. Institutional investors are still requiring information on the representation of women and other underrepresented groups on the boards and the executive teams of their portfolio companies, and many corporations view their DEI programs as essential to attract the top talent required to excel as demographics change.
“What they are saying, the amount that they’re saying, the way in which they are expressing it, may have changed, but the core focus on diversity as an area of importance for the organization, or for providers of capital making investment decisions, has not necessarily changed in the same way or at the same rate,” John says.
Yet human resources and DEI experts at Canadian companies have reported that the enthusiasm employers had in recent years for diversity initiatives has declined significantly.
John suggests that corporate Canada is at an inflection point, where companies still see the business value of making progress on their diversity goals, even if they don’t publicize them as much.
“There are a number of examples where the disclosure got shorter, but I think in some ways it got more meaningful because it was more tied to the underlying business, and how diversity is really driving the business, creating a more resilient organization.”
If you have a subscription, you can read the full article, “Fewer Canadian companies disclosing DEI records, study finds,” on the Globe and Mail website.
People Mentioned
Partner, Corporate, Toronto
