News Release

ASC releases 2021 update of Women on Boards data

Nov 04, 2021

CALGARY – November 4, 2021 – The Alberta Securities Commission (ASC) today participated in the publication of CSA Multilateral Staff Notice 58-313 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 7 Report).

As set out in National Instrument 58-101 Disclosure of Corporate Governance Practices, non-venture reporting issuers in Alberta are required to provide annual disclosure in their proxy circular or annual information form about representation of women on their boards and in executive officer positions, and other related disclosure requirements.

“Investors are increasingly looking for this information when making their investment decisions and it is encouraging to see the progress being made,” said Stan Magidson, Chair and Chief Executive Officer of the ASC. “The ASC is also considering how our current diversity disclosure framework could evolve to include broader aspects of diversity.”

The Canadian Securities Administrators (CSA) seventh year review includes the disclosures from 115 TSX-listed Alberta-based companies with year ends between December 31, 2020 and March 31, 2021. Alberta trends include:

  • Women hold 21 per cent of board positions in Alberta, an increase from 18 per cent in 2020 and eight per cent in 2015.1
  • Eighty per cent of companies have one or more women on their board, compared with 74 per cent in 2020 and 46 per cent in 2015; 60 per cent report having one or more women in executive officer positions.
  • Thirty-four per cent of board vacancies were filled by women in 2021, an increase from 25 per cent in 2017.2
  • Alberta’s largest companies continue to have the highest percentage of gender diversity among board members. Of the Alberta-based companies that form part of the TSX 60 Index:
    • Thirty-four per cent of board positions are held by women.
    • One hundred per cent have two or more women on their board, and 89 per cent report one or more women in their executive ranks.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

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1The first year reported on disclosures of TSX-listed issuers with year ends between December 31, 2014 and March 31, 2015.
2The CSA began tracking this metric in 2017. Prior year results are not available.

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Theresa Schroder
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