Minister Champagne marks publication of 2020 Corporations Canada C-25 diversity disclosure data report

From: Innovation, Science and Economic Development Canada

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement regarding the publication of the 2020 Corporations Canada C-25 diversity disclosure data report:

“Today, I welcome the publication of Corporations Canada’s first annual report on the diversity of boards of directors and senior management of federal distributing corporations. This report follows the passage of Bill C-25, which came into effect in 2020, marking a seminal moment in our government’s efforts to ensure that Canadian corporations reflect the diversity of the communities in which they operate.

“We recognize that in order to make evidence-based decisions, we must understand the scope of the problem. The data in this report will be an important tool in this process and, with the report’s publication, Canada becomes one of the first nations to measure corporate diversity beyond gender. This report will serve as a benchmark against which to judge future progress.

“It is clear that the numbers in this report fall well below what would accurately represent the diversity of Canada. This reflects the reality today that women, racialized persons, those who identify as LGBTQ2 and those living with disabilities (including invisible and episodic disabilities), as well as First Nations, Inuit and Métis peoples, are under-represented in positions of economic influence and organizational leadership across Canada.

“A diverse and representative workforce enables Canadian businesses to reach their full potential, and this in turn only strengthens our economy. Our government has taken important steps to address this reality, including launching the 50 – 30 Challenge; the Women Entrepreneurship Strategy; a charter on equity, diversity and inclusion for post-secondary institutions; and the Black Entrepreneurship Program-the first of its kind in Canada.

“I look forward to continuing to work with companies, thought leaders, diversity organizations and government partners across Canada to further these goals.”

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