More than four in 10 (43 per cent) employers have implemented, started to implement or are considering climate metrics for their executive incentive plans, while another 27 per cent may consider these in the future, according to a new survey by Willis Towers Watson. The survey, which polled more than 90 North American companies, found nearly half […]
An economist says the recent decision by Air Canada executives to voluntarily give back their bonuses is an incredibly rare case of an about-face on compensation from a company. David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives, says it’s unusual for public outcry to be successful in nudging C-suite employees to return their […]
The British Columbia Investment Management Corp. is raising its environmental, social and governance-related expectations for the publicly-traded companies it invests in. Under its new proxy-voting guidelines, updated every two years, the BCI made several significant changes in relation to diversity and inclusion, climate change and executive compensation. Specifically, the BCI now expects that women will […]
A recent decision from the Supreme Court of Canada suggests the test for employers seeking to limit recovery for unlawful termination damages related to long-term incentive plans may be insurmountable in practice. The mid-October ruling concluded that David Matthews was entitled to a payout under his incentive plan when the company was sold 13 months […]
Stikeman Elliott LLP is appointing Mark Firman as counsel in its tax and pensions and benefits groups in Montreal. In his career, Firman has advised on all aspects of pension and executive compensation law, including pension fund investments, plan governance and administration issues, stock option and other equity-based incentive plans and corporate governance relating to […]
Starbucks Corp. is aiming to tie its executive compensation to diversity targets beginning in 2021. The move is one of a series of initiatives the coffee chain has pledged to implement in its diversity, equity and inclusion goals and training, which come at a time of social justice unrest in the U.S. Starbucks has committed to […]
The British Columbia Investment Management Corp. is touting its 2019 environmental, social and governance successes in its annual ESG report. Some highlights from the year include that it finalized the introduction of a new corporate-wide ESG strategy including priorities and procedures for ESG reviews across all asset classes. As part of the strategy, the BCI’s […]
At a time of uncertainty caused by the coronavirus crisis, active ownership is more important than ever, says Kevin Thomas, chief executive officer of the Shareholder Association for Research and Education. Many organizations are trying to influence companies and policy-makers, and those voices matter, he notes. “You don’t want to be sitting on the sidelines.” […]
The federal government is putting a pin in its changes to employee stock options, which were supposed to take effect on Jan. 1. In a news release, the federal finance ministry said it’s reviewing feedback from consultations on the proposed changes and will announce its path forward and a new implementation date in its 2020 budget. The proposed changes, […]
Environmental, social and governance issues are becoming a bigger part of executive compensation, according to a new report by Mercer. In a survey of 135 North American organizations, 30 per cent said they’re currently using ESG metrics in their incentive plans, while 21 per cent are considering doing so. It also found organizations are more […]