Shareholder proposal on equity audit at Scotiabank gets more than twice the usual votes [Globe and Mail, The (Toronto, Canada)]
Bank Of Montreal (BMO)
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Source: Globe and Mail, The
The proposal was filed by SHARE, the Shareholder Association for Research and Education, on behalf of the Hamilton Community Foundation. Since 2023, all of the other "Big Six" Canadian banks have committed to conducting a third-party racial equity audit, including Bank of Montreal, Royal Bank of Canada, Canadian Imperial Bank of Commerce, National Bank of Canada, and the Toronto-Dominion Bank. Scotiabank is an outlier among its peers. A racial equity audit consists of an independent examination of a company's employment and business practices intended to identify and remediate potential and actual disparate outcomes for Indigenous Peoples and racially marginalized communities. "A racial equity audit will unify Scotiabank's presently fragmented reconciliation and equity initiatives, providing a co-ordinated, enterprise-wide assessment to drive meaningful progress," says Sarah Couturier-Tanoh, Director of Shareholder Advocacy at SHARE. "It will also measure and support the Bank's ne
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