Diversity is the scope of differences. Equity and inclusion are involvement and action.
Here are some examples of how we’re making Equity, Diversity and Inclusion part of our everyday operations at all levels of the company:
Board of Directors:
- Since 2014, women on our Board has risen from 9% (1 woman out 11 Board members) to 44% (4 women out of 9 Board members) currently.
- 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.
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. We have three female executives, which represents 43%* of our executive team.
*With Darcy Trufyn retiring effective June 30, 2021, Steve Owens joined the executive team as of June 1, 2021. Darcy is not included in the 43% calculation.
“A focus on equity, diversity and inclusion is imperative to ensure we have the very best people on our team. After all, you can’t get the absolute A-team if you’re only hunting from a portion of the talent pool and you won’t successfully harness the full power of your A-team if you aren’t including them in decision making. Likewise, you won’t maintain a diverse and inclusive team if you aren’t offering equal pay and equal access to opportunities.”
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 know we have work to do and we’re committed to the journey.
Increasing Learning and Awareness
- In 2019, our leadership team and Diversity & Inclusion Committee members participated in Unconscious Bias and Inclusivity training based on the Men Advocating Real Change (MARC) program developed by Catalyst.
- In 2020, this training was rolled out to employees. As part of powering a sustainable future, we are working to develop our future leaders and strengthen the diversity of our workforce with an eye on gender parity.
Our Steps Forward
- In 2020, we added a requirement, which is a component of the executive incentive plan, to have qualified diverse candidates presented for interviews for open positions, increasing the opportunity for diversity balance at all levels of the organization.
- For 2021, we added another requirement – a commitment to increase the number of qualified female hires and improve gender balance at our organization.
- We also joined Equal by 30 in 2020 – a campaign to demonstrate our commitment to gender equity as an integral part of the global transition to clean energy. This initiative believes gender equality is essential to successful clean energy transformation and asks the public and private sectors to endorse principles, set commitments, and take concrete actions to support women in energy and help close the gender gap. More than simply a campaign – Equal by 30 is a commitment to work towards equal pay, equal leadership, and equal opportunities for women in the clean energy sector by 2030.
As part of powering a sustainable future, we’re working to develop our future leaders and strengthen the equity and diversity of our workforce with an eye on gender parity.
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