Toronto, ON, July 27, 2017 – A new report published today by the Shareholder Association for Research and Education (SHARE) introduces a new investor-led effort to put reconciliation on the agenda for Canadian companies. Step one: bring reconciliation and Indigenous relations into the open through better corporate disclosure, which the report finds is often incomplete, inconsistent or lacking altogether.
In 2015, the Truth and Reconciliation Commission of Canada (TRC) issued its final report, providing a roadmap for a process to build better relationships between the Indigenous and non-Indigenous peoples in Canada. For investors and companies, the TRC issued Call to Action 92, which calls on the corporate sector to adopt the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) in their own operations. Call to Action 92 says companies can do this by ensuring access to jobs, training and long term benefits from economic development; training management and staff on Indigenous history and rights, intercultural competency and anti-racism; and, committing to obtain the free, prior and informed consent of Indigenous peoples before proceeding with projects.
SHARE’s report, Business and Reconciliation: How can investors evaluate the efforts of Canadian public companies? reviews the public reporting of 173 publicly listed corporations in 8 TSX indices on a set of indicators based on Call to Action 92. The research was funded by Edmonton Community Foundation, Inspirit Foundation, the McConnell Family Foundation, and Vancity Community Foundation who are committed to supporting reconciliation through their own activities, including their investments.
In order to address the need for greater disclosure of business and reconciliation practices in Canada, SHARE is co-hosting a series of workshops with Indigenous organizations and businesses, to get feedback and continue the conversation. The findings in this report will serve to spark further conversation about the policies, practices and disclosure that institutional investors, Indigenous peoples and all Canadians should expect from Canadian companies, and the contribution investors can make to reconciliation as active share owners.
SHARE is also leading shareholder engagement on behalf of Canadian institutional investors with a number of firms to improve policies, practices and public reporting related to Indigenous peoples and the TRC’s Call to Action.
Interviews available with Delaney Greig, Engagement Analyst and co-author.