Summary
Proxy advisor Glass, Lewis & Co. recently released its 2019 Canadian Guidelines to Proxy Advice. With
few exceptions, these policy guidelines will apply to shareholder
meetings beginning in January 2019. The new and amended policies
address a number of issues at the forefront of the Canadian
corporate governance landscape, certain of which are described
below.
Environmental and Social Risk Oversight
Glass Lewis codified its approach to reviewing how boards
monitor and manage environmental and social risks. For large-cap
companies and in the instance where Glass Lewis identifies material
oversight issues concerning environmental and social risks, Glass
Lewis will review a company's overall governance practices and
identify which directors have oversight of environmental or social
issues. Glass Lewis will also note instances where this oversight
has not been clearly defined by companies in their governance
documents. If Glass Lewis determines a company has
