2023 had the highest number of shareholder proposals, but support for proposals fell in each category other than governance, according to the latest Minerva Shareholder Proposals Annual Review.
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Financial institutions including banks and insurers will be required to publish climate disclosures aligned with the TCFD framework.
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Nevsun Resources, (TSX: NSU / NYSE MKT: NSU) will face charges of forced labour in the Canadian courts, even though the allegations of slavery by its Bisha Mining Share Company subsidiary occurred in Eritrea. However, the three Eritrean men will have to pursue their cases individually rather than as a class action as they had planned. The Supreme Court of British Columbia […]
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Canada has introduced a bill aimed at improving its corporate governance framework. An Act to amend the Canada Business Corporations Act (CBCA), the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act includes proposals to increase shareholder democracy and participation, support the push to increase women’s board participation, improve corporate transparency and business certainty. Navdeep Bains, Minister of […]
Read MoreCanadian Securities Administrators (CSA), the umbrella organisation for Canada’s mosaic of markets regulators, is seeking feedback on its proposals for a policy on proxy advisory firms. “National Policy 25-201 Guidance for Proxy Advisory Firms” is the result of its 2012 consultation paper which looked at possible issues with the shareholder voting research industry. The CSA says […]
Read MorePeter Dey, the architect of Canada’s first corporate governance guidelines for boards, is convinced that the power of directors has been eroded on that balance of power has shifted too far to shareholders on key issues. Dey’s remarks were made in a speech at the ICGN annual conference this week after he received the Lifetime Achiever Award in recognition […]
Read MoreThe Canadian Securities Administrators have decided that companies are too busy to comply with the proposed corporate governance changes published last December. The CSA is a council of the securities regulators of Canada’s provinces and territories which co-ordinates and harmonizes regulation for the Canadian capital markets. Their proposals aimed to replace a number of governance […]
Read MoreCanada’s largest financial institutions have agreed a voluntary approach to “say-on-pay” which will see a standardised, non-binding shareholder vote proposed during the 2010 season. In a sharp contrast to the US’ legislative battle to give shareholders a voice on executive pay, Canadian shareholder groups and companies have worked together to create a common format which […]
Read MoreMost investment managers are voting proxies without guidance from clients, according to a new survey released this week by the Canadian Shareholder Association for Research and Education. In its annual proxy survey, SHARE reports that 71% of investment managers say that they vote most of their pension fund clients’ proxies at their own discretion, without […]
Read MoreOne of Canada’s leading newspapers, the Globe & Mail, is striking the death knell for The Ontario Teachers’ Pension Plan’s role in promoting good governance in Canada. Their gloomy analysis comes after the pension fund announced and 18% loss and a reduction in its Canadian stocks weightings in by more than half. Some of their holdings will […]
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