(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

Young Professionals of the Alberni Valley seek members, new partnerships

Next Alberni Connect event is Thursday, April 18

Fisheries Department announces conservation measures to protect chinook in B.C.

Urgent protection measures include closure of a commercial fishery involving seven endangered stock

PAC RIM ACTIVE: Cathedral Grove re-opened, Little Qualicum still closed after windstorm

December windstorm caused a great deal of damage to two provincial parks

BIZ BEAT: New summer market opening in Uptown Port Alberni

Celebrate Pet Appreciation Month at Bosley’s

Port Alberni golfers partner with the pros

Alberni Men’s Club golfers enjoyed another great day on the links

VIDEO: Port Alberni hosts highland dancers

41st annual competition took place at the Alberni Athletic Hall

Prince George sweeps to first-ever BC Hockey League crown

Spruce Kings beat Vernon Vipers 3-1 in the Okanagan Wednesday for 13th straight playoff win

Hwang’s first MLS goal lifts Whitecaps to 1-0 win over LAFC

Vancouver picks up first victory of season

Child-proof your windows ahead of warm weather: B.C. expert

Fifteen children were taken to BC Children’s Hospital for falls in 2018

B.C. trucker pleads guilty to lesser charges in fatal Manitoba crash

Gurjant Singh was fined $3,000 and given a one-year driving prohibition.

Study links preschool screen time to behavioural and attention problems

The research looked at more than 2,400 families

Island man guilty of child porn charges, Crown alleges 250,000 images

Psychiatric assessment requested by Crown, sentencing to be set June 4 in Nanaimo court

More than $100,000 raised for family of professional skier who died near Pemberton

Dave Treadway leaves behind his pregnant wife and two young boys

BC SPCA asks public for donations after puppy caught in trap

The puppy’s medical bills are expected to amount to more than $4,600

Most Read