ASC releases 2022 update of Women on Boards data

CALGARY, AB, Oct. 27, 2022 /CNW/ - The Alberta Securities Commission (ASC) today participated in the publication of CSA Multilateral Staff Notice 58-314 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 8 Report).

As set out in National Instrument 58-101 Disclosure of Corporate Governance Practices, non-venture reporting issuers in Alberta are required to provide annual disclosure in their proxy circular or annual information form about representation of women on their boards and in executive officer positions, and other related disclosure requirements. 

"It is encouraging to see progress being made within Alberta's issuer community," said Stan Magidson, Chair and Chief Executive Officer of the ASC. "Investors are looking for more information about diversity in corporate board rooms and senior management, and we continue to explore diversity more broadly at the ASC and within the CSA."

The Canadian Securities Administrators (CSA) eighth year review includes the disclosures from 116 TSX-listed Alberta-based companies with year ends between December 31, 2020 and March 31, 2021. Alberta trends include:

• Women hold 23 per cent of board positions in Alberta, an increase from 21 per cent in 2021 and eight per cent in 2015.¹
• Eighty-two per cent of companies have one or more women on their board, compared with 80 per cent in 2021 and 46 per cent in 2015; 66 per cent report having one or more women in executive officer positions compared with 60 per cent in 2021.
• Forty-five per cent of board vacancies were filled by women in 2022, an increase from 34 per cent in 2021 and 25 per cent in 2017.²
• Alberta's largest companies continue to have the highest percentage of gender diversity among board members. Of the Alberta-based companies that form part of the TSX 60 Index:
• Thirty-four per cent of board positions are held by women.
• One hundred per cent have two or more women on their board, and 88 per cent report one or more women in their executive ranks.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

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¹ The first year reported on disclosures of TSX-listed issuers with year ends between December 31, 2014 and March 31, 2015.

² The CSA began tracking this metric in 2017. Prior year results are not available.

SOURCE Alberta Securities Commission

For Media Inquiries: Theresa Schroder, Senior Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488