The Alberta Securities Commission has proposed a rule change that would require Alberta-based companies to disclose the number of women on their boards and in upper management.
They also want the companies to describe any related policies or targets.
Officials say disclosure requirements enhance transparency and give shareholders information they may find helpful in making investment and voting decisions.
Minister of Status of Women Stephanie McLean says she applauds the move, adding it’s time for Alberta companies to achieve gender balance in management.
In 2015, women held nine per cent of board positions on Alberta-based, TSX-listed companies.
Under the proposed rules by the Alberta Securities Commission companies would be required to disclose on an annual basis:
– The number and percentage of women on the issuer’s board of directors and in executive officer positions
– Director term limits or other mechanisms of board renewal
– Policies relating to the identification and nomination of female directors
– Consideration of the representation of women in the director identification and nomination process and in executive officer appointments
– Targets for women on boards and in executive officer positions
If a company doesn’t comply, they would have to explain its reasons for not doing so.