Diversity is the scope of differences. Inclusion is involvement and action.
We believe that our ability to execute our strategy and maximize shareholder value is achieved by bringing together talented employees from diverse backgrounds, on an inclusive basis, to work collaboratively to meet the challenges and capture the opportunities of our business. We strive to develop diverse and unified teams who collectively make better decisions and ultimately, deliver outstanding performance.
We recognize that a diverse and inclusive work environment is also more engaging and fulfilling. By leveraging existing and future diversity, consciously fostering open mindedness and avoiding “groupthink”, and being aware of hidden biases, we are committed to providing a stimulating, innovative and supportive work environment for all employees to thrive, do their best work and build their careers.
Capital Power is committed to fostering a culture where diversity and inclusion is an element that is woven into the fabric of who we are, a key value and a means to grow and succeed.
Here are some examples of how we’re making Diversity and Inclusion part of our everyday operations at all levels of the company:
Board of Directors Diversity:
- Our Board currently has four female directors representing nearly half of our directors.
- The Board Diversity Policy allows that:
- At least 50% of the slate of director candidates presented to the People, Culture, and Governance Committee in every search for new directors must be women, and extra weight will be given to qualified female candidates in final nomination decisions.
- A goal of 30% was established for the minimum representation of women on both our board and executive team.
- Annually, the People, Culture, and Governance Committee is required to consider the balance of skills, experience, independence, knowledge of Capital Power, and diversity as part of the performance review of the Board, its committees, and individual directors. The Board Diversity Policy has been integrated with other board processes, including board assessment and succession planning.
- The effectiveness of the Board Diversity Policy will be measured based on our goal of women representing at least 30% of our directors, and the policy will be examined in rotation by our internal audit department as part of their rotating audit of all corporate policies approved by the board.
Executive Diversity:
Our goal with respect to recruiting executives is to have women represent at least 30% of our executive team. We will recruit candidates who best fulfill the needs giving extra weight to any women who meet the criteria. There are currently three female executives who represent 42% of our executive team.
Workforce Diversity:
We have an Executive-sponsored and employee-led Diversity and Inclusion Committee that is responsible for developing a company-wide strategy for integrating and embedding diversity and inclusion across our culture and work environment, including appropriate initiatives and metrics for the short and long-term. The results of two employee surveys, one completed as part of our company-wide engagement survey and one specific to diversity and inclusion led by KPMG, were used to guide the Committee in its efforts. We promote and continually work to build an inclusive, engaged and diverse culture in which individual differences and the contributions of all employees are recognized and valued. This fosters creative thinking, innovation and problem solving which give us the competitive advantage we need to consistently meet and exceed our business goals.