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

Status
0.50% votes in favour
AGM date
Previous AGM date
Proposal number
3
Resolution details
Company ticker
NA: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 be French, which is the language of work in Quebec, including at annual meetings. Its official status must be formally recorded, in writing, in the company’s letters.
Supporting statement
The Bank is headquartered in Quebec, a French-speaking province. Quebec has existed for over 400 years, and its official language is French. It is the only French-speaking state in America.  A people’s language is its most essential fundamental attribute, an existential attribute. The diversity of the world cannot be reduced to matters of the biological nature of individuals or to the arbitration of individual privileges. The diversity of the world is, first and foremost, a collective issue based essentially on the cultures of peoples. The people of Quebec, through their territorial state and public institutions—beginning with the National Assembly, its constitution, and its charters—ensure the protection of linguistic diversity in the world by rigorously protecting the collective and public nature of their language. The spirit of the law is clear,(1) including the reforms to the federal and Quebec legislation. Respecting and promoting this attribute of global diversity is a social responsibility for all companies. This is in the interest of all stakeholders, starting with the entire community, regardless of background. Sustainable development and long-term performance cannot be conceived of otherwise. It is a company’s duty to adhere strictly to these widely acknowledged principles. Moreover, it is perfectly possible to do business anywhere in the world with a headquarters that operates in the local language. For example, Samsung conducts its annual general meeting (in the city of Suwon) in Korean; Heineken (Amsterdam) in Dutch; 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 simple and clear.  The French language is not a choice. It is the collective instrument of communication. For foreign languages, there is translation, simultaneous or not. French is our language. This is a social issue of equity, justice, and dignity. A national issue. 

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.