{"id":476063,"date":"2021-04-14T08:03:39","date_gmt":"2021-04-14T12:03:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/women-remain-underrepresented-in-canadian-boardrooms\/"},"modified":"2021-04-14T08:03:39","modified_gmt":"2021-04-14T12:03:39","slug":"women-remain-underrepresented-in-canadian-boardrooms","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/women-remain-underrepresented-in-canadian-boardrooms\/","title":{"rendered":"Women Remain Underrepresented In Canadian Boardrooms"},"content":{"rendered":"<h2>\nNew research finds that disclosure requirements are not having their intended impact<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>Ottawa, April  14, 2021  (GLOBE NEWSWIRE) &#8212; <b>Ottawa, April 14, 2021<\/b> \u2013 New research from The Conference Board of Canada has found that improved \u201ccomply or explain\u201d disclosure requirements have failed to accelerate the entry of women into corporate boardrooms.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yo-_WIPnmg4pIE7-nSa_Sznn1QBkxVzPRVkvV68EJ9dc7XPJa2YiWIV6M1xGjfk0JAI73jqIbsyAGYq7xz1I76-7NePt7JUj6JOYpCc1IjImHB5AzBhn-SB-Afv8BIAk6PHnhIdIfDcVJaSwJBWnSg==\" rel=\"nofollow noopener\" target=\"_blank\">The research<\/a> shows the rate at which women are being invited into Canada\u2019s boardrooms remains slow among companies listed on the Toronto Stock Exchange. \u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Between 2015 and 2018, the representation of women on corporate boards in Canada rose from 11 per cent to 15 per cent. While increasing the proportion of women on boards by four percentage points represents some progress, the pace of change mirrors the increase seen in the three years immediately prior to Canada adopting \u201ccomply or explain\u201d disclosure requirements that ask publicly traded companies to comply with disclosure requirements or explain their non-compliance.<\/p>\n<p>\u00a0<\/p>\n<p>At the current rate in which women are being appointed to corporate boards, it will take another 17 years to achieve gender parity in Canada\u2019s boardrooms, The Conference Board research shows. More than half (53 per cent) of the board seats that became vacant in 2018 went to men and about a quarter (23 per cent) were left unfilled or eliminated.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThat only a quarter of board seats vacated each year are being filled by women is extremely disappointing,\u201d says Dr. Susan Black, Chief Executive Officer of The Conference Board of Canada. \u201cIf there is a silver lining to be found in the current situation, it is that every boardroom vacancy represents an opportunity.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>The Conference Board\u2019s research found that among the seven countries that used hard quotas, more progress has been made, with an average of 31 per cent female representation compared to an average of 26 per cent representation amongst 14 Organisation for Economic Co-operation and Development (OECD) countries that use voluntary compliance measures.<\/p>\n<p>\u00a0<\/p>\n<p>There are a wide range of options that can be used to increase the representation of women on corporate boards, from increased investor pressure to binding government regulations. Legislative action is increasingly being used around the world to bring more women into boardrooms. Countries such as Norway and France have adopted representational targets of women on corporate boards that are legally binding and failure to comply is met with financial penalties.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIn Canada, comply or explain was a well-intentioned step toward increasing the number of women on corporate boards, but it is clear that it\u2019s not a singular solution,\u201d says Rob Davis, Chair of the Board and the Chief Inclusion and Diversity Officer at KPMG in Canada. \u201cFinding and implementing solutions that work in Canada is not only in the best interest of women, but it\u2019s good for business and the bottom-line.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>KPMG was a member of the study\u2019s Research Advisory Board.<\/p>\n<p>\u00a0<\/p>\n<p>The full report is available <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QYzAtlGaonqZODkGWh3bQjqDE_uJqjy7UMhVlxyXsgA9e_LLNgi9x-OIG5vodMqvXsqW7z3IdkIsUW9oNDjYOE8dfr2pkWGGG6jwhGENr5jImG0IJ_tdvJrxFw62UHGn\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>. Media should contact <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hY7Q8AuL6pipPWPdWul9EpRXF0oL0SSP3OW6T6hIVmJIQUKYlWlHbskFGfB62XhY7WVOc-cxWEd4fziq1EjkOwVbwwiwYHuFN_V4Wl7X3P0=\" rel=\"nofollow noopener\" target=\"_blank\">media@conferenceboard.ca<\/a> for access.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <b>About the Conference Board of Canada:<\/b>\n      <\/p>\n<p>The Conference Board of Canada is the country\u2019s leading independent research organization. Our mission is to empower and inspire leaders to build a stronger future for all Canadians through our trusted research and unparalleled connections. <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1tdFinOHki0wJZjD7yPcbn0o1GQnpYoNJl2Ov4OKfzP8c7YaCewLpPmZLMlHX6n5nh6xYE_dC5u_27snOlhY0_w91_qfcqHdB4ueQ7pjRi9wgzkzZ0talT5b6k880cpj__rcv4kYSiP5zH0amACeRA==\" rel=\"nofollow noopener\" target=\"_blank\">Follow The Conference Board of Canada on Twitter<\/a> @ConfBoardofCda<\/p>\n<p>\u00a0<\/p>\n<p>\n        <b>Media Contact:<\/b>\n      <\/p>\n<p>The Conference Board of Canada<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hY7Q8AuL6pipPWPdWul9EpRXF0oL0SSP3OW6T6hIVmJrFNtA9Nlozi4t5oubcI3m0GqcpwxlLoD-esOga9v0ub7iuBVKss9OeV0TW8Qc6fY=\" rel=\"nofollow noopener\" target=\"_blank\">media@conferenceboard.ca<\/a> \u00a0\/ 613-526-3090 ext. 224<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxNjQyOSM0MTE5NTk5IzIxODczMDE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ef23eb82-5424-4c67-83a0-67f17eb2e222\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Corp Comm\r\nThe Conference Board of Canada\r\n6135263090 ext. 224\r\ncorpcomm@conferenceboard.ca\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>New research finds that disclosure requirements are not having their intended impact Ottawa, April 14, 2021 (GLOBE NEWSWIRE) &#8212; Ottawa, April 14, 2021 \u2013 New research from The Conference Board of Canada has found that improved \u201ccomply or explain\u201d disclosure requirements have failed to accelerate the entry of women into corporate boardrooms. \u00a0 The research shows the rate at which women are being invited into Canada\u2019s boardrooms remains slow among companies listed on the Toronto Stock Exchange. \u00a0 \u00a0 Between 2015 and 2018, the representation of women on corporate boards in Canada rose from 11 per cent to 15 per cent. While increasing the proportion of women on boards by four percentage points represents some progress, the pace of change &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/women-remain-underrepresented-in-canadian-boardrooms\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Women Remain Underrepresented In Canadian Boardrooms&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-476063","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Women Remain Underrepresented In Canadian Boardrooms - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/women-remain-underrepresented-in-canadian-boardrooms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Women Remain Underrepresented In Canadian Boardrooms - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New research finds that disclosure requirements are not having their intended impact Ottawa, April 14, 2021 (GLOBE NEWSWIRE) &#8212; Ottawa, April 14, 2021 \u2013 New research from The Conference Board of Canada has found that improved \u201ccomply or explain\u201d disclosure requirements have failed to accelerate the entry of women into corporate boardrooms. \u00a0 The research shows the rate at which women are being invited into Canada\u2019s boardrooms remains slow among companies listed on the Toronto Stock Exchange. \u00a0 \u00a0 Between 2015 and 2018, the representation of women on corporate boards in Canada rose from 11 per cent to 15 per cent. 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