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TMX management joins Canadian businesses committing to Indigenous economic empowerment

22 April 2021 – By Katherine Wheatley, Kevin Thomas, & Anthony Schein Following productive dialogue with the company, we are pleased to announce that the board of directors of the TMX Group (which owns the Toronto Stock Exchange) has agreed to jointly support a resolution on reconciliation and Indigenous relations to TMX shareholders filed by SHARE on behalf of the Atkinson Foundation. The Atkinson Foundation’s proposal asks the company to commit to develop internal programs and policies on equity, diversity, and inclusion including Indigenous employees; to review procurement from Indigenous-owned businesses and establish procurement objectives; and to engage with Indigenous organizations to identify standards of practice...

“Strong leadership and an effective system of accountability” needed at the Chartwell board of directors: SHARE

19 April 2021 – By Sarah Couturier-Tanoh, Senior Shareholder Engagement & Policy Analyst, SHARE Cross-posted with permission from the SHARE blog. At the upcoming annual meeting at Chartwell Retirement Residences, SHARE is recommending unitholders vote FOR the shareholder proposal (proposal No. 1) on board oversight of the workforce, and that unitholders withhold (Vote against) their vote for the chair of the Board, Michael D. Harris. SHARE argues that the company’s performance during the COVID-19 pandemic, when at least 393 Chartwell residents have died from the virus, underscores the importance of board oversight of the workforce, and the need for the company to provide reporting to investors on...

Reconciliation and responsible investment: Growing the Indigenous economy in Canada

30 March 2021 – By Katie Wheatley, Manager, Reconciliation & Responsible Investment Initiative, SHARE and Lindsey Walton, Head of Canada for Signatory Relations, PRI Cross-posted with permission from the PRI blog. Canadian businesses must support Indigenous communities in securing long-term, sustainable benefits from economic development, as part of their reconciliation duties, enshrined in the Truth and Reconciliation Call to Action #92. Creating opportunities for equity ownership and participation are significant steps in this process, and responsible investors have a role to play in encouraging these. The Indigenous economy in Canada continues to grow, but remains largely untapped. Indigenous peoples contribute over CAD 30 billion annually to Canada’s GDP,...

New research finds corporate Canada dragging its feet in disclosing progress on reconciliation

March 11, 2021 – New research suggests that corporate Canada is slow to recognize the value of tracking and reporting on Indigenous relations and reconciliation. The report, Business and Reconciliation: An Update Exploring the Performance of Public Companies in Canada, reviewed company disclosures using a broad set of indicators to measure  progress in advancing reconciliation since the release of a benchmark report in 2017. Research on a sample of 78 companies found a 26 percent increase in the number of companies stating that they prioritize employment of Indigenous people, up from 13 percent in 2016. In addition, there was a 28 percent increase in companies that...

Survey Launch: Asset Manager Action on Reconciliation

How can we think about and further support asset managers’ action towards advancing reconciliation in Canada? Background Central to the investment process is the relationship between asset owners, such as Indigenous trusts, and their asset managers. However, oftentimes the firms that assist Indigenous decision-makers in overseeing their invested assets have not explicitly adopted a reconciliation and rights recognition lens to their investment policies or processes. As research conducted by SHARE and the Canadian Council for Aboriginal Business (CCAB) in 2019 illustrates, investment organizations are important actors in the Canadian economy at large.[1] Investment organizations play critical roles as employers, shareholders, and capital providers – as well as...

Standing in solidarity with Indigenous rights-holders in the Maritimes: Investors and fisheries in Canada

By Katherine Wheatley, Shannon Rohan, & Anthony Schein - SHARE Last week, our team watched the escalating violence against Mi’kmaq fishers and started exchanging emails and messages internally: “How much do we know about the Nova Scotia fishery supply chain?” “Which major companies buy Nova Scotia lobster?” “Do seafood sustainability labels have any human rights analysis?” “Has the Fisheries Council of Canada made a public statement?” At first glance, Indigenous fishing rights seemed far removed from the investment context. As we examined the relevant fishery and market dynamics further, we found opportunities for companies, and investors, to uphold Mi’kmaq treaty rights – and their own commitments...

SHARE and NATOA welcome the Edmonton CFL Team’s Announcement of a Name Change

The Shareholder Association for Research and Education (SHARE) and the National Aboriginal Trust Officers Association (NATOA) welcome today’s announcement from the Canadian Football League’s (“CFL”) Edmonton franchise of its decision to retire its team name. The abandonment of the use of an Indigenous moniker is a positive step to advancing reconciliation and respectful relations with Indigenous peoples. Indigenous-led calls on the Edmonton CFL franchise to change its name have been made for a number of years. President Natan Obed, leader of the national Inuit organization, Inuit Tapiriit Kanatami (“ITK”), has called on the franchise to change its name since 2015, saying, “This issue is about...

Investors Demand Washington Team #ChangeTheName

SHARE has joined investors representing more than $620 billion in assets calling for NIKE, PepsiCo, and FedEx to terminate business with the NFL’s Washington D.C. franchise if it fails to cease using the racial slur “R*dsk*ns” as its name. SHARE and RRII stand in solidarity alongside First Peoples Worldwide, the Oneida Trust, and others involved in the Investors and Indigenous Peoples Working Group (IIPWG), which has engaged companies for years seeking an end to the use of the racist name and logo. Opposition to the name of this franchise is also being advanced by the National Congress of American Indians, Illuminative, and other U.S.-based Indigenous groups. At SHARE, Indigenous rights...