New Canadian Alliance Created to Achieve Gender Parity on Boards

A new alliance has been created to help accelerate gender parity on boards. The Canadian Gender and Good Governance Alliance (CGGGA) is made of seven influential Canadian organizations dedicated to pushing forward gender equality in the workplace, especially on boards and in executive positions.

Despite decades of advocacy, women are still outnumbered in senior roles, especially within financial services. Women hold approximately 14 per cent of all board seats and only 26 per cent of open board positions are filled by female applicants. A McKinsey & Company study in 2016 showed that only six per cent of Canadian CEOs are women.

The CGGGA is made up of Women in Capital Markets (WCM), the 30% Club Canada, Catalyst Canada, the Business Council of Canada, the Institute of Corporate Directors (ICD), Canadian Coalition for Good Governance (CCGG), and the Clarkson Centre (CCBE).

This is the first coalition of its kind in North America. The CGGGA Directors' Playbook is their first initiative and presents practical tools companies can use to achieve gender balance on boards.

Women's Post spoke with Marlene Puffer, partner at Alignvest Investment Management, who represents Women in Capital Markets within the alliance, to find out a bit more.