Thank you to the FP500 directors who completed our Annual Report Card survey this year and our growing list of pioneering member organizations who make all this possible. Beginning in 2010, we were the first organization to set aspirational targets for Canadian boards: 20% by 2013, increasing to 30% by 2018. 2010 also marked the launch of our first Annual Report Card. We said we were tackling board diversity by starting with the facts.
We established a definition of board diversity that expanded the traditional definition of industry experience, management experience, education, functional area of expertise, geography and age to also include such factors as gender, ethnicity, aboriginal status and disability. We went ahead and published the first-ever baseline in the 2010 Annual Report Card on the representation of women, visible minorities, Aboriginal people, people with disabilities and LGBT on FP500 boards. According to data released today in the Canadian Board Diversity Council’s (CBDC) seventh Annual Report Card (ARC), pace of change is moving at a static pace when it comes to diversity on FP500 boards in Canada
The 2016 ARC revealed that women today hold 21.6% of FP500 organization board seats, up from 19.5% in 2015. While this represents a 2.1% increase, the pace of change just isn’t fast enough.
There has been a decline in the number of directors who self-report to be a visible minority, down more than a third since 2015, returning to the average we have seen over the years. In 2016, the number of board members with disabilities has seen a slight increase. The number of Aboriginal FP500 directors has decreased from 1.3 percent in 2015 to 0.6 percent in 2016, the lowest reported level since 2010.
In 2016, the CBDC asked FP500 directors for the first time about their sexual orientation as a new factor of diversity. Among the FP500 director respondents, 2.1 percent identified as being part of the Lesbian, Gay, Bisexual, and Transgender (LGBT) community.
For the full report, please click here.