New rules under the Canada Business Corporations Act (CBCA) require federally-incorporated, public companies to provide shareholders with information on diversity policies and practices regarding the make up of their board of directors and senior management, and may include the proportion of women, Aboriginal peoples, persons with disabilities and members of visible minorities.
In light of these new requirements, the ICD and Osler, Hoskin & Harcourt LLP have updated our complimentary Board Diversity Policy Template. This revised template continues to help organizations create a written policy respecting the representation of women on the board. In addition, the policy can be customized to address the new CBCA diversity disclosure requirements.
We encourage users to view this template as a starting point, and leverage it to tailor policies that align with their organization’s business objectives and the competency and behavioural requirements they have identified for their board.