Kevin Thomas has been appointed as the new Executive Director of the Shareholder Association for Research & Education (SHARE), starting June 1, 2018. Peter Chapman is stepping down after 18 years at the helm of the organization.
On April 26 SHARE presented a shareholder proposal about board gender diversity at the Annual General meeting of Constellation Software on behalf of the Fonds de Solidarité des Travailleurs du Québec. The proposal received 49.16% of the shareholder vote; the highest vote for a gender diversity proposal ever in Canada.
In an era marked by Cape Town’s looming ‘day zero’, the value of water cannot be overstated, and understanding water-related risks is essential for investors. SHARE, on behalf of The Fonds de Solidarité des Travailleurs du Québec (FTQ), has filed a shareholder proposal requesting better disclosure from Canadian company Imperial Oil on its exposure to and management of water-related risks.
This quarter SHARE achieved two strong successes on human rights by raising the stakes of our engagements and helping shareholders exercise their right to file resolutions with a company. In both cases we were able to achieve important progress without going to a vote.
Eight more Canadian companies have scheduled annual advisory votes on executive compensation (“Say on Pay” votes) after being approached by institutional investors working together to promote the practice.
SNC-Lavalin is actively engaged in lobbying activity in a number of Canadian and foreign jurisdictions. Over the years, concerns have been raised with the company’s operations in Canada and internationally and the processes through which the company lobbies for lucrative government contracts. The proposal filed by the Fonds de Solidarité (FTQ), represented by the Shareholder Association for Research and Education (SHARE), seeks information about the oversight and extent of SNC-Lavalin’s contributions to political activity.
Gender diversity is a critical attribute of a well functioning board and a measure of sound corporate governance. Constellation Software Inc. does not currently have such a policy. It does not have any women in executive office and only 1 of 10 director candidates proposed for election at the 2018 AGM is a woman. The Fonds de Solidarité FTQ, represented by SHARE, filed a shareholder proposal for consideration at the 2018 AGM of Constellation targeted at improving the company’s approach to gender diversity.
Bombardier Inc. is actively engaged in lobbying activity in a number of Canadian and foreign jurisdictions. This proposal asks the Board to prepare a report, updated annually, disclosing the company’s positions and priorities for policy activity; which external associations the company supports; the company’s oversight and review process for aligning association contributions and memberships with business priorities and shareholder value; and how the company reviews memberships for potential risks to the company’s reputation.
SHARE’s Director of Shareholder Engagement reflects on his trip to Vietnam and Singapore to discuss investor due diligence on human rights and the global push for transparency at special events organized by the Canadian Chambers of Commerce and Canadian Consulates in both countries.
As one of the largest oil producing and refining companies in Canada, Imperial’s reliance on water withdrawals and high volume of wastewater production means the company is exposed to potential physical, regulatory and reputational water-related risks across its business segments. This proposal asks the company to respond to the CDP Water information request.