(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

Cache Creek council votes to rejoin local transit system

Details need to be worked out, but hopes are that change can be expedited

Ashcroft residents get information at Community Forum

Water treatment plant, recycling, an Eco-Depot, the budget, and more among items addressed

Elizabeth May’s wedding will be a ‘low-carbon affair’ in Victoria on Earth Day

Green party leader’s wedding party to depart in a cavalcade of electric cars

Gas prices spike in northern B.C. ahead of the long weekend

Fuel went up 17 cents overnight in Prince Rupert

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Flooding, climate change force Quebecers to rethink relationship with water

Compensation for victims of recurring floods limit to 50% of a home’s value, or a maximum of $100,000

Storms blast South, where tornadoes threaten several states

9.7 million people in the Carolinas and Virginia at a moderate risk of severe weather

Private cargo ship brings Easter feast to the space station

There are three Americans two Russians and one Canadian living on the space station

Notre Dame rector: “Computer glitch” possible fire culprit

The fire burned through the lattice of oak beams supporting the monument’s vaulted stone ceiling

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Most Read