Power Corporation of Canada | Enhance director's environmental and climate change skills at Power Corporation of Canada

Status
AGM passed
AGM date
Previous AGM date
Proposal number
4
Resolution details
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Other ask
ESG theme
  • Environment
  • Governance
ESG sub-theme
  • Climate change
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Energy
Company HQ country
Canada
Resolved clause
"It is proposed that Power Corporation of Canada enhance the skills matrix of its directors to take specific account of experience and expertise in
environmental and climate change issues."
Supporting statement
"As a reminder, the Canada Business Corporations Act was amended in 2019
to include a non-exhaustive list of factors that corporations may take into
account when determining what is in the best interests of the corporation:
the interests of shareholders, employees, retirees and pensioners, creditors,
consumers and governments, as well as the environment and the long-term
interests of the corporation.
In addition, the latest edition (2023) of the Globe and Mail’s Board Games[1]
introduced two new criteria for assessing board performance: the inclusion
of climate expertise in the skills matrices of the corporations evaluated, and
the training provided to directors in this area. A number of institutional
investors also consider the role played by the board of directors and its
committees in their review of corporate governance practices.
The directors’ skills matrix refers to competence in dealing with matters of
sustainability and corporate social responsibility. However, competence in
climate change and environmental issues requires specific knowledge that
deserves special attention.
We believe that it would be appropriate for you to revise your skills matrix to
take account of this particular expertise."

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