June 10, 2013
Ottawa – The Honourable Rona Ambrose, Minister of Public Works and Minister for Status of Women, today chaired the meeting of the federal government's advisory council to promote the participation of women on corporate boards.
"Increasing opportunities for women to serve on corporate boards makes good business sense for Canadian women and for Canada's economy," said Minister Ambrose. "Businesses with more women on their boards routinely outperform those with fewer. Therefore, I am pleased to chair this meeting of distinguished Canadians to find ways Canada can increase the representation of women on corporate boards."
While many women lead successful businesses and are active members of corporate boards, they remain under-represented. Canada's Economic Action Plan 2012 announced the creation of an advisory council of leaders from the private and public sectors to promote the participation of women on corporate boards.
Minister Ambrose added "board diversity is not about quotas or tokenism. Board diversity is about better corporate decisions, better responses to market demographics, and better financial performance. It is also about the future, and having more women in key leadership positions to serve as role models for young women and girls."
The advisory council is comprised of women and men representing a wide range of experience within the corporate sector. Its mandate is to:
- Provide advice on how industry can increase women's representation on corporate boards;
- Suggest how industry and government can track and measure progress in this initiative and what tools, if any, government should employ to achieve this goal; and,
- Make recommendations on how the government could recognize leaders in industry and applaud companies that have succeeded in reaching their targets.
The advisory council is expected to make its recommendations by the fall of 2013.
The Harper Government is committed to strengthening Canada's economy with initiatives that create jobs while supporting families and communities. The federal government's support through Status of Women Canada for community-based projects has nearly doubled since 2006-2007, supporting 600 projects across the country.
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