Corporate governance in Canada continues to evolve. Diversity continues to be a focus of regulatory and proxy advisory policy change, and for boards, is a key component of ESG concerns. The adoption of majority voting in the Canada Business Corporations Act (CBCA) strengthens shareholders’ hands at shareholder meetings. The introduction of legislation governing disclosure of beneficial ownership of company shares, as well as certain other matters not previously subject to mandatory disclosure, are showing a trend towards increased transparency.

Climate change is another core aspect of ESG concerns at the board level. Proposed climate-related disclosure rules will entail very significant changes to corporate governance that will require boards of directors to undertake a comprehensive review of the corporation’s governance structures and practices. Changes continue to be made to corporate statutes to remove perceived technical burdens. Stakeholders will look for more oversight from the board as adoption of generative AI continues to grow exponentially.

In the Canada chapter of the Chambers Corporate Governance Guide 2024, Bill Gilliland details the trends and developments to help your business navigate the ever-evolving Canadian corporate governance landscape.

Access the Canada chapter of the Chambers and Partners Corporate Governance Guide 2024.

Should you have any questions regarding corporate governance in Canada or globally, please contact  Bill Gilliland.

This guide was first published by Chambers and Partners.