This new initiative is building reconciliation into Canada’s investment community
Why It Matters
Getting Indigenous communities involved in investing is crucial to their economic self-empowerment, but including traditional values and ethics in modern investment practices can be tricky.
At a May meeting for TMX Group, Canada’s largest stock exchange operator, shareholders made history by voting overwhelmingly in favour of a proposal to reshape how the financial services company works with the Indigenous economy.
The proposal calls on TMX Group’s board of directors to develop internal programs on equity that include Indigenous communities in the company’s business practices, but also review how TMX Group procures from Indigenous-owned businesses. It’s believed to be the first time a Canadian company’s board of directors has jointly endorsed a proposal on reconciliation—and a unique project called the Reconciliation and Responsible Investing Initiative (RRII) helped make it possible.
Katie Wheatley, manager of the RRII at the Shareholder Association for Research and Education (SHARE), says companies can’t just ignore Indigenous rig
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