More than 100 financial industry organizations across the United States and Canada have signed the CFA Institute’s diversity, equity and inclusion (DE&I) code.
Together, those organizations represent about US$11.2 trillion in assets under management, the CFA Institute said in a release on Wednesday.
Canadian signatories include the Alberta Investment Management Corporation (AIMCo), Sun Life Financial subsidiary SLC Management, Mawer Investment Management Ltd., Fiera Capital Corp., the First Nations Financial Management Board and several others.
In Canada, the code requires signatories to commit to implementing the Truth and Reconciliation Commission of Canada’s Call to Action 92.
Other requirements include designing, implementing and maintaining inclusive and equitable promotion and retention practices to reduce barriers to progress, and using their position and voice to promote diversity, equity and inclusion in the investment industry.
“DEI Code signatories have the support of an operationalized reporting process that helps firms to plan and evidence their progress,” said Sarah Maynard, global senior head of DE&I with CFA Institute, in a release.