Navdeep Bains, Canada’s minister of innovation, science and economic development, thinks Canada’s current corporate environment could use more diversity. According to The Guardian, “women make up 12% of the directors at companies listed on the Toronto Stock Exchange while visible minorities make up 4.5% of company directors in the country’s top 500 companies.” In a speech at the University of Windsor, Bains explained that many corporations attribute the low diversity numbers to a lack of diverse candidates.
One of the issues I hear from people is, ‘Well, we just don’t have the people. We don’t have the talent. We don’t have the women. We don’t have the diversity in our corporation. We would love to promote diversity but we just can’t find the people,’” said Bains. “That’s a bunch of bullshit.
The government is currently seeking to pass legislation that would mandate that the country’s publicly traded companies “disclose information on diversity among their directors and senior management to shareholders. The government has said the legislation is aimed at encouraging the recruitment of women and other under-represented groups for corporate boards and senior management.”
The country’s diversity push seems to be continuing under the Trudeau administration with much room to grow.