In November 2020, SHARE asked whether TD Bank’s announcement of its new climate plan would “raise the bar” for Canadian banks. Four months later, all of Canada’s five largest banks have committed to measuring and disclosing their “financed emissions.”
We hope SHARE’s joint submissions will help Canada develop a new framework for corporate governance that gives real meaning to broader fiduciary duties requiring corporate directors to take workers, retirees and the environment into account in their decision-making.
Principles for Responsible Investment – Canadian businesses must support Indigenous communities in securing long-term, sustainable benefits from economic development, as part of their reconciliation duties, enshrined in the Truth and Reconciliation Call to Action #92.
Globe and Mail – The Ontario government plans to move ahead with an overhaul of the Ontario Securities Commission, pushing an expanded mandate for the regulator and proposing a drastic reconfiguration of its internal governance structure.
Benefits Canada – A coalition of Canadian university endowments and pension plans are launching a new initiative to engage investee corporations on climate change risks.
Globe and Mail – Despite some progress, Canada’s corporate sector has much work to do in accelerating representation and participation of Indigenous peoples on corporate boards, in management and across companies’ operations.
New research by the Reconciliation and Responsible Investment Initiative suggests that corporate Canada is slow to recognize the value of tracking and reporting on Indigenous relations and reconciliation.