Shareholders approve proposal to increase Canadian firm’s gender diversity

Advocates for socially responsible investment and good corporate governance are touting the first win for a shareholder proposal dedicated to improving gender diversity at a Canadian firm.

The Vancouver-based Shareholder Association for Research & Education (SHARE) has reported that a proxy proposal on diversity filed by the British Columbia Teachers Federation received 64.5% shareholder support at Waste Connections Inc.’s annual meeting.

The proposal, which was also supported by SHARE, calls on the company to establish a plan to increase the representation of women within its workforce.

“Although it is becoming a corporate governance standard in North America, this is the first time a proposal on gender has passed at a Canadian company,” SHARE said.

SHARE also reported that its efforts at encouraging greater gender diversity are generally getting “a progressively stronger response” from companies.

Following the shareholder vote at Waste Connections, SHARE said it will be “following up with the company to hold it accountable in implementing this proposal, requested by the majority of its shareholders.”