Laurentian Bank of Canada | French as official language at Laurentian Bank of Canada

Status
1.90% votes in favour
AGM date
Previous AGM date
Proposal number
7
Resolution details
Company ticker
LB:CN
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Diversity, equity & inclusion (DEI)
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the language of the Bank, in particular the language of work in Quebec, including the language of annual meetings, be the French language. The official status of the French language must be formally recognized, in writing, in the by-laws of the organization.
Supporting statement
The head office of the bank is located in Quebec, a French-speaking State. The State of Quebec has existed for over 400 years. Also, the official language of Quebec is the French language. The State of Quebec is the only French-speaking Sate in America. The language of a people is its most fundamental attribute, an existential attribute. The diversity of the world cannot in any way be reduced to questions strictly relating to the biological nature of natural persons or to the arbitration of individual privileges. The diversity of the world is first and foremost a collective issue based essentially on the culture of peoples. The people of Quebec, via its territorial State and public institutions, in particular its National Assembly, its constitution and its charters, contribute to global linguistic diversity by rigorously protecting the collective and public character of its language. The spirit of the law is clear, and so is that of the reform of federal and Québec laws. Respecting and promoting global diversity is, amng other things, a question of corporate social responsibility. It is in the interest of all stakeholders, starting with the entire community, from all origins. Sustainable development and long-term performance cannot be envisioned otherwise. It is the duty of the society to act in scrupulous respect for these sacred principles. Also, it is perfectly possible to do business anywhere in the world with a head office that operates in the language of the State where it is located. For example, the annual general meeting of shareholders of Samsung (Suwon) takes place in the Korean language, Heineken (Amsterdam) in Dutch language, Nissan (Yokohama) in Japanese, Foxconn (Taiwan) in Mandarin, Volkswagen (Wolfsburg) in German and L’Oréal (Clichy), Danone (Paris), Christian Dior (Paris) and LVMH (Paris) in French. The content is translated into other languages. The principle is clear and simple. The French language is not a choice. It is the common instrument of communication. Moreover, it can be translated into foreign languages, simultaneously or not.  French is everyone's language.  It is a collective issue of equity, justice and dignity. A national issue. 

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