SHARE, Hamilton Community Foundation withdraw proposal days ahead of AGM
April 8, 2025 – TORONTO – Days ahead of the annual general meeting for EQB Inc. (TSX:EQB), SHARE – the Shareholder Association for Research and Education – has withdrawn a shareholder proposal following commitments from the company to advance Indigenous reconciliation.
The proposal, filed on behalf of the Hamilton Community Foundation, requested that EQB report on the extent to which its policies and practices regarding Indigenous community relations, recruitment and advancement of Indigenous employees, internal education on Indigenous reconciliation and procurement from Indigenous-owned businesses compare to or are certified by external, Indigenous-led standards of practice.
EQB shared that their recently published Responsibility Report disclosed data on Indigenous workforce representation and initiatives to increase Indigenous employment and support for reconciliation efforts. These disclosures — as well as the company’s formal commitment to consider the merit of becoming certified by the Canadian Council for Indigenous Business Partnership Accreditation in Indigenous Relations (“PAIR”) program and publishing a Reconciliation Action Plan — led to the formal withdrawal of the shareholder proposal.
“We are pleased to see EQB committing to advancing Indigenous reconciliation in a meaningful way that strives to align with its Indigenous employees, suppliers, and clients,” said Juana Lee, Associate Director of Corporate Engagement at SHARE.
Lee said the commitments from EQB send a signal to peer companies about the opportunities that can arise from advancing reconciliation. She cited the Truth and Reconciliation Commission’s Call to Action No. 92, which calls on businesses to adopt the principles, norms and standards of the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP).
“Companies that do so may not only generate long-term value for shareholders, but may increase business opportunities by partnering and working with Indigenous rightsholders,” she said.
Yulena Wan, Chief Financial Officer and Chief Operations Officer at the Hamilton Community Foundation, said the organization’s commitment to advancing reconciliation informs all of its work, including how it invests and stewards capital.
“Colonialism is a particularly oppressive and harmful social structure, and we are committed to aligning our work with Indigenous rights and self-determination,” said Wan.
“We pursue both social returns and investment returns. Working with SHARE allows us to use responsible investing and impact investing as tools to ensure sustainable long-term returns while making positive change.”
On Wednesday, April 9, SHARE will present a statement about the withdrawn proposal at EQB’s Annual General Meeting (AGM).
In the next year, SHARE will continue to engage with the company to monitor progress and provide support for its efforts to advance Indigenous reconciliation.
For media inquiries, contact SHARE Communications Manager Adam Burns at aburns@share.ca.
