New Diversity Disclosure Requirements For Public CBCA Corporations

Public corporations incorporated under the Canada Business Corporations Act (CBCA) will soon be required to report the diversity of their directors and senior management.

Effective January 1, 2020, public CBCA corporations must disclose:

• if they have adopted policies on the identification and nomination of "designated groups", and details of such adopted policies, including assessments of progress.
  
  "Designated groups" are:
  
  • women;
  • Aboriginal peoples;
  • persons with disabilities; and
  • members of visible minorities;
• whether the board or nominating committee considers the level of representation of designated groups on the board and in senior management, and whether it has adopted targets for each designated group;