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11 - Shareholder Engagement and Voting in Canada

from Part II - Australia and North America

Published online by Cambridge University Press:  10 September 2022

By
Poonam Puri  and
Ankita Gupta
Edited by
Harpreet Kaur ,
Chao Xi ,
Christoph Van der Elst  and
Anne Lafarre
Harpreet Kaur
Affiliation:
National Law University Delhi
Chao Xi
Affiliation:
The Chinese University of Hong Kong
Christoph Van der Elst
Affiliation:
Tilburg University, The Netherlands
Anne Lafarre
Affiliation:
Tilburg University, The Netherlands
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Summary

In Canadian corporate law, shareholders occupy a preferential role vis-à-vis other stakeholders. Shareholders are the only stakeholder with statutory rights, such as the right to elect and remove directors. Against this backdrop, this chapter examines the Canadian corporate governance landscape from the perspective of shareholders and examines the legal and market tools that shareholders have available to them. This chapter also explores the limitations and effectiveness of these mechanisms and considers various market actors who influence shareholder behaviour and can facilitate shareholder engagement. The chapter concludes with an analysis of three trends in shareholder engagement in Canada: (i) institutional investor engagement on issues at the core of ESG; (ii) the role of proxy advisory firms and the influence they wield over institutional shareholders; and (iii) the immediate  impact of COVID-19 on shareholder engagement.

Keywords

Canadashareholder engagementcorporate governancestakeholder governanceinstitutional investorsESGdiversityenvironmental disclosureproxy advisory firmsvirtual meetings
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Chapter
Information
The Cambridge Handbook of Shareholder Engagement and Voting , pp. 214 - 238
Publisher: Cambridge University Press
Print publication year: 2022

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