As of 2017, 22% of the Canadian population aged 15 and over had one or more disabilities according to Statistics Canada. Furthermore, a report released by Ryerson University’s Diversity Institute in August 2020, titled Diverse Representation in Leadership: A Review of Eight Canadian Cities , analyzed the diversity of companies in 2019 across a range of sectors in Calgary, Halifax, Hamilton, London, Montréal, Ottawa, Toronto and Vancouver. The report indicates that women continue to make slow progress in terms of their overall representation on boards but that there has not been much progress, if any, for other minority groups. 138 That report (which advanced similar research by the Diversity Institute over the past decade) marked the first time that Black representation on Canadian boards was specifically analyzed by the Diversity Institute, and its findings on the lack of Black representation on corporate boards are particularly notable. The report analyzed 178 Canadian private and public companies in the corporate sector and a total of 1,639 directors. Of these directors, only 13 (0.79%) were Black and 61 (3.72%) were from other visible minority groups. For context, Canada’s 2016 census indicates that Black people make up approximately 3.5% of Canada’s overall population. The report also noted that Black representation on boards across all sectors was disproportionately lower than all other visible minority groups. 139 Finally, Corporate Knights Magazine completed a recent analysis of TSX 60 issuers and found that only six of the 799 senior executives and only four of the 686 directors were Black. When reached for comment by Corporate Knights Magazine , several TSX 60 issuers indicated that change was necessary and that more gender and racial diversity was required within their board and senior executive teams. Some also indicated had established diversity and inclusion councils and that they were reviewing or enhancing their diversity and inclusion policies, initiatives and reporting.
Several TSX 60 issuers indicated that change was necessary and that more gender and racial diversity was required within their board and senior executive teams.
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Governance Insights 2020
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