SUPPORTING STATEMENT: MÉDAC has, on several occasions in the past years, submitted shareholder proposals asking the Bank for the calculation and disclosure of the compensation ratio – a shareholder proposal Vancity has now also submitted. Despite the substantial number of votes cast in support of these proposals, the Bank still does not disclose its total compensation ratio, as it has been mandatory for some time in the U.S. and as several companies are already doing here in Canada. A number of arguments have, of course, been raised against the publication of such a ratio. Despite the fact that the compensation ratio should be published for all employees according to the standards1 of the Global Reporting Initiative (GRI), public disclosure of non-confidential “country-by-country reporting” data — namely Action 132 of the OECD/G20 Inclusive Framework on BEPS3 (acronym for Base Erosion and Profit Shifting4), an international initiative to which the federal government has subscribed — would enable the calculation of significant compensation ratios, making it possible to better interpret the overall compensation ratio by enhancing the description of the context. Moreover, making this non-confidential data public — as is the case in several other countries, including Europe — would be an exercise in transparency, goodwill and good faith, and would directly contribute to efforts to combat tax evasion, tax avoidance, tax havens and other overindulgent laws. For all these reasons, the Bank must make public, each year, the non-confidential data of its country-by-country reporting.