Women in the Boardroom: Minimal Targets Not Met - Question Period

CLAUDIA CHENDER « » : My question is for the Premier. Research shows that companies run by a diverse board of directors, including those with at least 30 per cent women directors, deliver better results for shareholders. However, less than 20 per cent of the companies that have received government investment through the Crown corporation Innovacorp have any women on their boards, and zero meet the minimum industry standard of 30 per cent women directors.

Will the Premier explain why his government has exclusively invested in companies that fail to meet even these minimal targets for the participation of women in the boardroom.

THE PREMIER « » : I want to thank the honourable member for this really important question. I'm proud of the work that we have been doing inside of government. She would know and recognize that we now finally have gender parity on the provincial Family Court benches in this province. Not only gender - it's the most diverse bench this province has ever had. When we came into power, the ABCs, which her Party actually had an opportunity to correct, had 23 per cent women. Now over 40 per cent of our appointments are women because we made a direct effort.

I believe she's referencing an article that was talking about Innovacorp, Mr. Speaker. In some cases, there are no boards. Innovacorp is an investor in a particular entrepreneur or if there is a board, Innovacorp is one of many investors that gets to appoint one board member as every other investor gets to appoint board members. She would know Innovacorp is an arm's-length body from the province.

We'll continue to make the improvements that ensure that our daughters see themselves in boardrooms. On the boards that we have direct access to, Mr. Speaker, we're doing just that.

CLAUDIA CHENDER « » : We are talking here about the boardroom, not the bench. With respect, putting women on ABCs is one thing - breaking the glass ceiling is what we're talking about here. In a 2018 meeting with the Maritime chapter of the Institute of Corporate Directors, the Premier was informed of how staggeringly few women are on the boards of companies in which the government holds equity. He ardently assured the chapter that he would take action to correct this issue in 2018.

What concrete measures has the Premier taken since that time to increase the number of investments in companies that meet the standard of 30 per cent women directors?

THE PREMIER « » : First of all, I completely disagree with the honourable member. I believe it's important that my daughter and women across this province see themselves on the Family Court bench in the province. When her Party had an opportunity, they appointed eight men, Mr. Speaker - eight men - to the provincial Family Court bench. I believe it is important that our daughters and women in this province see themselves reflected on that bench and that minorities see themselves reflected on that bench.

The honourable member is raising an important question when it comes to the private sector. We are one of a number of investors in many of the Innovacorp investments. We potentially get an opportunity to appoint one board member as every other investor does. Again, Mr. Speaker, they're investing in ideas that are creating jobs and creating economic opportunities in our province.

We will continue to ensure that the boards that we have direct appointment to reflect the demographics of our province. We will continue to work with the private sector to make investments, drive job opportunities, drive job creation, and drive investments not only for our sons but for our daughters.