As colleagues around the table have indicated, there's a whole diversity of corporations that are covered by our act, the Canada Business Corporations Act. Distributing corporations come in a whole series of forms.
What this bill does is facilitate a conversation between shareholders and their boards about what diversity looks like for them. Overall, we'll be able to see what progress looks like.
There's a whole host of civil society actors that are active in this space. There are organizations like Catalyst Canada. There are organizations like the Women's Executive Network. There are organizations like the centre on board diversity. All of those organizations have been actively working with the shareholder community to be able to arm them with the right kinds of discussions to be able to put pressure on their organizations to be able to say, “What does good look like for your company and your organization?”
Then at the aggregate level they've made things like the 30% Club or other organizations. I think that conversation is what this bill facilitates. Shareholders and corporations will now have an annual discussion on these issues, and civil society actors will continue to be exerting pressure from the outside as well to be pushing the marker upward.