Toromont Industries Ltd. | Investing in the Indigenous Economy at Toromont Industries Ltd.

Status
99.04% votes in favour
AGM date
Previous AGM date
Proposal number
5
Resolution details
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Local communities and/or indigenous rights
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Industrials
Company HQ country
Canada
Resolved clause
The board of directors report to shareholders on the extent to which Toromont Industries Ltd.'s policies and practices regarding Indigenous community relations, recruitment and advancement of Indigenous employees, internal education on Indigenous reconciliation, and procurement from Indigenous-owned businesses compare to or are certified by external Indigenous-led standards of practice. 
Supporting statement
To be responsive to the regulatory and reputational pressure related to Indigenous inclusion, many companies have developed internal programs or policies on Indigenous relations, recruitment of Indigenous employees, and procurement from Indigenous-owned businesses. For investors, however, the breadth, depth, and content of these programs is impossible to determine. Facing inconsistent disclosure, the extent to which a company has effectively incorporated steps to address Indigenous inclusion and reconciliation is impossible to measure. There are, however, externally-verified options for corporations to demonstrate that their programs meet standards developed by qualified Indigenous organizations, such as the Progressive Aboriginal Relations (PAR) program of the Canadian Council for Aboriginal Business, which provides independent certification to corporations in Canada. Clear and consistent information about Toromont's performance on Indigenous reconciliation is crucial for investors to understand the company's approach and position relative to peers. 

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