The board of directors report to shareholders on the extent to which our company’s
policies and practices regarding lndigenous community relations, recruitment and
advancement of lndigenous employees, internal education on lndigenous reconciliation,
and procurement from lndigenous-owned businesses compare to or are certified by
external lndigenous-led standards of practice.
To be responsive to the regulatory and reputational pressure related to lndigenous
inclusion, many companies have developed internal programs or policies on lndigenous
relations, recruitment of lndigenous employees, and procurement from lndigenousowned 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 lndigenous 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 lndigenous organizations, such as the
Progressive AboriginaI Relations (PAR) program of the Canadian Council for Aboriginal
Business, which provides independent certification to corporations in Canada. Within
Canada’s financial sector, this is already an established best practice: BMO, Scotiabank,
CIBC, Deloitte, EY, ATB Financial, and Accenture have all achieved certification under
the PAR program.