Investors Back Action on Reconciliation

Image credit: from Toromont Industries Ltd. Annual General Meeting

The Reconciliation and Responsible Investment Initiative (RRII) — a collaboration of National Aboriginal Trust Officers Association (NATOA) and the Shareholder Association for Research and Engagement (SHARE) — works to mobilize institutional investors to move capital markets more into keeping with Indigenous values and ways of knowing.

This initiative is bearing results. In a report on this past proxy season, SHARE reports that the RRII  took four actions with investors, with three resulting in agreements with  companies.

One of these was filed by SHARE on behalf of Atkinson at Toromont Industries Ltd in April. Our shareholder proposal called on the Board of Directors to “report to shareholders on the extent to which Toromont Industries Ltd.’s policies and practices regarding Indigenous community relations, recruitment and advancement of Indigenous employees, internal education on Indigenous reconciliation, and procurement from Indigenous-owned businesses compare to or are certified by external Indigenous-led standards of practice.”

The resolution was endorsed by the company and passed with 99 percent of the vote.

We’re committed to repairing relations with Indigenous communities in response to the Truth and Reconciliation Commission’s Call to Action 92. We are encouraged to see shareholder action get results and momentum building for a more fair economy.

Read SHARE’s blog post on investor action on reconciliation this proxy season here.