Ontario Teachers' Pension Plan Board Increases Expectations on Board Diversity in 2023 Proxy Voting Guidelines
February 22, 2023
The Ontario Teachers’ Pension Plan Board is reinforcing its focus on diversity, equity and inclusion for large cap publicly traded companies, and notably setting higher expectations for the number of women participating in board roles, according to its 2023 Proxy Voting Guidelines.
The Guidelines call for an increase in gender diversity, including a minimum of 40 per cent representation of directors identifying as women, which is up 10 per cent from expectations set out since 2013. Ontario Teachers’ said supporting data shows growth in average gender diversity on boards at large public issuers in other developed markets. For example, France, Italy, and Norway have adopted a minimum 40 per cent benchmark for women on boards.
To learn more about the Guidelines, click on more information below:
