2025 Diversity Disclosure Practices

Introduction

Like last year, progress on enhancing diversity among the directors and executive officers of Canadian public companies lost momentum in 2025. The proportion of women on boards continued to increase in 2025, but at a far slower rate of growth — an increase of 0.7 percentage points, compared to an average of approximately two percentage points per year since we began reporting. This is the lowest rate of growth we have observed and is approximately half of the 1.3-percentage-point increase seen last year. There was essentially no change in the proportion of women executive officers compared to last year. For companies required to report under the CBCA Requirement, the representation of members of visible minorities, Indigenous Peoples and persons with disabilities on boards and in executive officer positions also remained essentially flat or, in some cases, regressed slightly from last year.