OTTAWA—The Liberal government hopes that proposed legislation requiring publicly traded companies to disclose the gender composition of their corporate boards and senior management will lead to greater diversity, but will consider imposing specific targets if the new measures don’t work.
“We want to send a clear signal that diversity is important and you need to explain what your diversity policies are and we feel that will start moving the needle,” Economic Development Minister Navdeep Bains said in an interview Wednesday, Oct. 26, adding that changes happened when the United Kingdom and Australia brought in voluntary measures.
“But in a few years, if we don’t see progress—in a few years, if we don’t see meaningful results—then we will re-evaluate our position and look at all other options at that time,” Bains said.
