The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement regarding the publication of the 2021 Corporations Canada diversity disclosure report, a requirement under the Canada Business Corporations Act.
"Today, I welcome the publication of Corporations Canada's second annual report on the diversity of boards of directors and senior management of federal distributing corporations. Requiring federal distributing corporations to disclose the diversity of their boards and senior management has stimulated conversations with shareholders about the benefits of reflecting the diversity of the communities in which they operate.
"The report's findings show that Canada is taking the right steps to improve diversity on boards of directors and in senior management. Compared to last year's report, there are more Canadian corporations with women, visible minorities, Indigenous peoples and people with disabilities on their boards of directors and in their senior management ranks.
"While the report shows that Canadian federal distributing corporations are making progress, there is still much more work to be done to ensure greater diversity in positions of corporate leadership.
"A diverse and representative workforce enables Canadian businesses to reach their full potential, which in turn 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 our shared goals."
